“What is moral about the free market?”

by Skip

One of my favorite economists is Dr. Walter E. Williams, Professor of Economics at George Mason University.  He is always able to take the complicated, boil it down, and make it easy to understand.  Given that the whole notion of what capitalism and the free marketplace can do (versus the socialistic turn we seem to be taking), Dennis Prager of Prager University asks four simple of the good doctor:

  • What is moral about the free market?
  • Is the free market a zero sum game?  That is, if someone wins, does someone else lose?
  • How does the free market deal with failing companies?
  • What is the role of government in a free market economy?

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