Can Capitalism Survive?

Contents

Capital_001-050.indd 7 1/3/12 7:36 PM Contents Foreword . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Part I Can Capitalism Survive? Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 1. Can Capitalism Survive? . . . . . . . . . . . . . . . . . . 15 Part II The Philosophy of Freedom Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 1. The Case for Economic Freedom . . . . . . . . . . . 39 2. The Libertarian Philosophy . . . . . . . . . . . . . . . 55 3. Who's to Blame? . . . . . . . . . . . . . . . . . . . . . . . . 64 4. Paradise in Posey County . . . . . . . . . . . . . . . . . 70 Part III On the Nature of Economics Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 1. Adam Smith: 1776- 1976 .. . . . ..... . ...... 85 2. Christian Economics: Myth or Reality? . . . . . . 106 3. College Economics: Is It Subversive of Capitalism? . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130 Capital_001-050.indd 8 1/3/12 7:36 PM 8• Can Capitalism Survive? Part IV On the Business System Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137 1. Profits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139 2. The Businessman . . . . . . . . . . . . . . . . . . . . . . . . 152 Part V On Labor Markets Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161 1. The Labor Monopoly . . . . . . . . . . . . . . . . . . . . 163 Part VI On Money and Inflation Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181 1. The Long-Run Economic Outlook . . . . . . . . . . 183 2. Alleged Causes of Inflation: Corporate Monopolies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 195 Part VII On the Problems of Cities Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 209 1. The Problems of Cities . . . . . . . . . . . . . . . . . . . 211 Part VIII On Education Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 241 1. Financing Higher Education in the United States . . . . . . . . . . . . . . . . . . . . . . . . . . . 243 2. The Promise of the College ........ . ....... 275 Part IX On What to Do Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 285 1. The Businessman and the Defense of Capitalism . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 287 2. Reflections on the Election of 1964 . . . . . . . . . . 301 3. The Foundation for Economic Education: Success or Failure? . . . . . . . . . . . . . . . . . . . . . . 307 Index .. . ..... . . .. .... . . . .......... . .. . .... 321 ...