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He was not, as he is sometimes misrepresented, a prophet of "bourgeois" individualism, advocating free competition in a capitalist free market.
Rather conveniently, we happen to live in the kind of social order that is most in tune with our natural inclinations – a capitalist free market economy.
It has offered capitalist, free market models in a country where government still plays a central role and has hastened the tendency of the country's best and brightest young people to choose careers in business rather than the civil service.
But in an age of swingeing cuts to welfare budgets, all this story really does is bolster the arguments in favour of capitalist free markets and small-state conservatism.
The capitalist free market is held to be self-regulating; producers and consumers, acting selfishly, benefit each other, and rational economic planning disrupts the innate, benign "intelligence" of markets.
For a few dozen euros, Petr and his colleagues will take you on a tour of the landmarks of corruption and cronyism that have so blighted the Czech transformation from a socialist planned economy to a capitalist free market.
Similar(51)
I didn't really see how there would be much else for them to do under a capitalist free-for-all such as he was advocating.
Whether Mr. Rockefeller, whose father corralled the early oil industry in a monopolistic trust in the early 1880s, would favor the Turner family's claim, or a capitalist free-for-all for the concession, is another question.
The contrast between Russia and other countries, notably the Czech Republic and Poland, was striking because Poland was one of the first Eastern European countries to pursue what became known as the "shock therapy" model, which aimed to speed up the transition from a centralized, state-run economy to a capitalist, free-market one.
At the height of the Great Depression, our unemployment rates only briefly exceeded 20percentt, and there were serious fears of the collapse of the capitalist free-market system and even the institutions of democratic governance.
For one thing, a capitalist free-for-all under a Republican White House will likely lead to the creation of another asset bubble of the type witnessed in 2008, and result in another economic crisis when the bubble inevitably bursts.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com