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 […]

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. […]

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.