American Enterprise Institute scholar James Pethokoukis argues that corporations—unlike citizens who might deserve a social safety net—must be spurred by the ever-present fear of failure. Without the possibility of failure, innovation, efficiency, and growth are impossible. In many ways, crony capitalism, government protection of incumbent businesses, and other anti-competitive policies have led to the recent […]Read More
To understand Irving Kristol’s defense and critique of capitalism, National Affairs editor Yuval Levin breaks down Kristol’s 1970 essay “‘When virtue loses all her loveliness’—some reflections on capitalism and ‘the free society’”. Kristol celebrated how capitalism offers prosperity and freedom, but reserved applause for capitalism as a stand-alone moral system. Famously, Kristol gave capitalism only two cheers, not three. […]Read More
During our Advanced Institute, The Future of the Israeli Economy, we were honored to have Ambassador Ron Demer join us. Dermer, a close adviser for many years to Benjamin Netanyahu discussed the Prime Minister’s role in enacting free market reforms and other policies that have promoted exceptional growth. He also discussed both the moral case for capitalism and the relationship of the free market to Jewish values. Watch Ambassador Dermer’s speech to the institute participants here.Watch the video here.
Economic First Principles Kristol’s Three Promises of Capitalism Yuval Levin began his session on morality and the welfare state by drawing the group’s attention to the writings of Irving Kristol. When it came to the free economy, Kristol argued that capitalism as a system recommends itself to society with three promises, but the question remains; […]Read More
The novelist Saul Bellow is fond of recalling a political incident from his youth. Saul, then an undergraduate at the University of Chicago, was, like so many of us in the 1930s, powerfully attracted to the ideologies of socialism, Marxism, Leninism and Trotskyism, as well as to the idea of “the Revolution.” He and a […]Read More
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