Is capitalism moral, or greedy?
If it’s based on greed and selfishness, what’s the best alternative economic system? Perhaps socialism?
And if capitalism is moral, what makes it so?
In a time in which socialism (or at least “social democracy”) is the norm in Western Europe, and in which a leading presidential candidate in the United States is a proud socialist, understanding the differences between capitalism and socialism was never so important.
Walter Williams, a renowned economist at George Mason University, answers these questions and more.