Can Capitalism Survive?
Benjamin A. Rogge- late Distinguished Professor of Political Economy at Wabash College- was a representative of that most unusual species: economists who speak and write in clear English. He forsakes professional jargon for clarity and logic - and can even be downright funny. The nineteen essays in this volume explore the philosophy of freedom, the nature of economics, the business system, labor markets, money and inflation, the problems of cities, education, and what must be done to ensure the survival of free institutions and capitalism.
For a reflection on the enduring relevance of Rogge’s work, see the Liberty Classic Can Capitalism Survive? Ben Rogge on Capitalism’s Future, by Dwight R. Lee.
Can Capitalism Survive? (Indianapolis: Liberty Fund, 1979).
Copyright:
The copyright to this edition, in both print and electronic forms, is held by Liberty Fund, Inc.
People:
- Author: Benjamin A. Rogge
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Table of Contents
- ABOUT THE AUTHOR
- ABOUT THE BOOK
- THE EDITION USED
- COPYRIGHT INFORMATION
- FAIR USE STATEMENT
- TABLE OF CONTENTS
- Foreword
- PART I: CAN CAPITALISM SURVIVE?
- Introduction
- CHAPTER 1: Can Capitalism Survive?
- I
- II
- III
- PART II: THE PHILOSOPHY OF FREEDOM
- Introduction
- CHAPTER 1: The Case for Economic Freedom
- The Moral Case
- Basic Values Considered
- Individual Freedom of Choice
- Noneconomic Freedoms
- Partly Socialized
- Each Step Leads to Another
- Impersonality of the Market
- CHAPTER 2: The Libertarian Philosophy
- CHAPTER 3: Who’s To Blame?
- Society on Trial
- Responsibility Is Personal
- CHAPTER 4: Paradise in Posey County
- PART III: ON THE NATURE OF ECONOMICS
- Introduction
- CHAPTER 1: Adam Smith: 1776-1976
- Smith’s Basic Argument
- Smith’s Thinking Applied to the Problems of His Day
- Is Smith Still Relevant?
- CHAPTER 2: Christian Economics: Myth or Reality?
- Economics as a Pure Science
- Economics as Something Less than a Pure Science
- Economics as Something More than a Pure Science
- Some Basic Assumptions
- Christian Economics: A Case Study
- Minimum Wages
- Trade Unions
- Social Security
- Redistribution of Income
- Under Which Christian Precept Can Force Be Justified?
- The Personal Practice of Freedom
- If Economists Disagree, Let Christians Be Tolerant
- CHAPTER 3: College Economics: Is It Subversive of Capitalism?
- PART IV: ON THE BUSINESS SYSTEM
- Introduction
- CHAPTER 1: Profits
- Are Profits Now Too High or Too Low?
- The Concept of Normal Profits
- The Concept of Market Structure
- Product Markets
- Resource Markets
- The Impact of Taxes
- Summary
- CHAPTER 2: The Businessman
- PART V: ON LABOR MARKETS
- Introduction
- CHAPTER 1: The Labor Monopoly
- I: Review of Opposing Views
- The Human-Relations Approach
- The Macroeconomic Approach
- The Approach of the Labor Economists
- II: Criticism of Current Policy
- III: Conclusions
- PART VI: ON MONEY AND INFLATION
- Introduction
- CHAPTER 1: The Long-Run Economic Outlook
- Misconceptions about Inflation
- The Prophecy
- CHAPTER 2: Alleged Causes of Inflation: Corporate Monopolies
- Market Power and Inflation
- Can Inflation Be Cured by Making the Economy More Competitive?
- PART VII: ON THE PROBLEMS OF CITIES
- Introduction
- Chapter 1: The Problems of Cities
- One Man’s Atlantis
- Right Rules Promote Right Outcomes
- Rule No. 1: Freedom of Exchange
- Rule No. 2: Property Rights and Control
- Explicit Ownership, No Zoning
- Rule No. 3: Only Minimize Coercion
- Nonmarket Pricing of Services
- Summary: Toward the Good City
- PART VIII: ON EDUCATION
- Introduction
- CHAPTER 1: Financing Higher Education in the United States
- Statement of the Problem
- The Effect of Below-Cost Pricing on Higher Education
- Problems of Finance
- Problems of Rationing
- Problems of Motivation
- Problems of Educational Efficiency
- Customer Control
- The Arguments for Below-Cost Pricing
- The Social Benefits of Higher Education
- The Egalitarian Argument
- Education and Equality of Opportunity
- Conclusions
- Recommendations
- CHAPTER 2: The Promise of the College
- PART IX: ON WHAT TO DO
- Introduction
- CHAPTER 1: The Businessman and the Defense of Capitalism
- CHAPTER 2: Reflections on the Election of 1964
- CHAPTER 3: The Foundation for Economic Education: Success or Failure?
- Table A
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