How Capitalism Will Save Us: Why Free People and Free Markets Are the Best Answer in Today's Economy Review

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How Capitalism Will Save Us: Why Free People and Free Markets Are the Best Answer in Today's Economy ReviewLittle is left to the imagination as one glances at the title of this book. The cards are on the table for all to see. The book is about free-market, or democratic, capitalism and the authors take a rather positive view to the subject as you may have already guessed.
For those just beginning the foray into the wonderful world of economics, capitalism is often held in disdain, and particularly so in a crisis situation as we now see in the United States and, to a lesser degree, here in Canada. At such times as now, capitalism is involuntary enlisted by many to play the role of a scapegoat.
For example, as I brought this book to the bookstore counter for purchase, the salesclerk sounded a faux "hmmm" as if thoughtfully absorbing what I was about to purchase. She and I both knew, however, what she really meant: how odd to find a book defending capitalism. Never mind the fact that capitalism is the very reason she and I have meaningful jobs in the first place. It is common practice these days in the Western world to despise those very things - whether Judeo-Christian values, fossil fuels or, in this case, capitalism - that afford us enough creaturely freedom and comfort in order to despise them.
And so this book from Steve Forbes and Elizabeth Ames is very timely, representing as it does an able defence of capitalism at a time when its popularity levels are at rock bottom.
Weighing in at a hefty eight chapters and 300+ pages, Forbes and Ames summarize the "rap" against capitalism on a number of fronts (e.g., is capitalism moral?, is capitalism brutal?, aren't the rich getting richer at the expense of others?, isn't government needed to direct the economy?) with particular attention paid to the present economic crisis in the United States. The authors then respond in turn with what they believe to be the "reality." Each chapter is divided into sections via a Q and A exchange, which is helpful in navigating through the content of the respective chapter.
Forbes and Ames view government interventionism, not capitalism, as the chief culprit behind the present economic disaster, not to mention many disasters of the past. Using many concrete examples from past history and the present, they illustrate how this is so.
In some ways, How Capitalism Will Save Us, is not unlike Henry Hazlitt's classic, Economics in One Lesson. In examples too numerous to count, Forbes and Ames demonstrate that government involvement in the economy, while sometimes well intentioned, leads to all kinds of market distortion, mischief and, finally, economic disaster. This is because government looks only at the short term without regard for the long term, and sees only some groups of people - usually special interest groups - and not every group in the market. This aside, even if government were not political, its involvement in the market would still wreak havoc given that no group of people, no matter how intelligent, can manage an eco-system as complex as modern-day markets.
If you've made it this far in the review, it's clear that I'm quite sympathetic with the authors' position. (I do disagree with a few points the authors make.) For those who don't believe in free-market economics, this book will cause you considerable pain since there's a good chance you'll disagree with something on just about every page in the book. For those, however, who are free-market proponents, or at least willing to listen to this side of the debate, the book will prove to be an able defence of democratic capitalism, an apologetic nicely set in the context of current events. You'll learn about the difference between greed and self-interest, the difference between out-sourcing and churn, and many other helpful distinctions.
Apart from ideological differences that readers will have with the book, my only other caveat is the book length. It is a bit verbose, which lends itself to some repetition. But the motivated reader will labor on through notwithstanding this small hurdle.How Capitalism Will Save Us: Why Free People and Free Markets Are the Best Answer in Today's Economy Overview

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