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Archive of posts published in the tag: Edward Freer

The Paradox of Capitalism

Walter Williams properly noted that socialism works if you know everybody’s name; in small family and tribal units.  It is poorly suited to the dispersed knowledge that is the glue of an integrated complex world.  Capitalism is efficient but contrary to our biological nature.  It is no surprise that the growth of tribalism in politics is accompanied by anti-capitalist rhetoric. Capitalism, like democracy, depends on values that may be contrary to human nature, while serving the betterment of mankind in our complex world.

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