Two Cheers for Capitalism?


Kurt Bouwhuis, Mackinac Center Intern

I attended the Midwest Students for Liberty conference this weekend where I listened to some great lectures.  The last speaker of the conference was Peter Leeson who gave a lecture titled “Two Cheers for Capitalism?”  The following is a couple take aways from his lecture, which is also in a working paper.

1. Unless one prefers poverty, premature death, ignorance, and political oppression to wealth, longevity, knowledge, and freedom, less capitalism deserve no cheers.

2. When people say things like, “It’s still unclear what effect the spread of capitalism throughout the world has had on humanity,” they’re wrong. Similarly, when people say that “markets are important; but we should be restrained in our endorsement of capitalism, as it has harmed as well as helped humanity,” they’re also wrong. Global capitalism’s effect is clear to the point of smacking one in the face: it has made the world unequivocally better off.

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