Book Report on the Politically Incorrect Guide to Capitalism

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The Politically Incorrect Guide to Capitalism What is Capitalism? Is it good for our economy? What actions have drove us to our current position in today’s society? These are all questions answered in Robert P. Murphy’s The Politically Incorrect Guide to Capitalism. Murphy describes Capitalism “as a system in which people are free to use their private property without outside interference” (Murphy, p. 1). It is also known to be referred to as a “free market” simply because it gives people the option to make their own decisions. This idea can be summed up in the phrase “laissez-faire”. The idea is that society contains within itself the capacity for ordering and managing its own path of development. “It follows that people should enjoy the liberty to manage their own lives, associate as they please, exchange with anyone and everyone, own and accumulate property and otherwise be creative by state expansion into their lives” (Tucker, n.p.). Capitalism is defined as “an economic system in which property resources are privately owned and markets and prices are used to direct and coordinate economic activities” (Economics, p. G-2). Capitalism promises nothing, but gives you opportunities to earn what you want. Too often we hear people use the term Capitalism like it is a bad thing, the reason for all of our economic troubles. When things do not always turn out the way that they are supposed to and take a turn for the worse, primarily the blame is pointed in the direction of Capitalism. It is viewed by some as a system where the rich attack the poor, as well as the use of the government to abuse the rights of minorities and the vulnerable. As Murphy describes this is not the case, the mistaken viewers implement practices that most likely caused the situation in to begin with. It is in his book that Murphy addresses such issues that are blamed on

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