Book Review -- Why Capitalism?
The financial crisis caused many to reconsider the desirability and feasibility of capitalism. In Why Capitalism?, renowned economist Allan Meltzer addresses what he feels are key issues that critics of capitalism routinely fail to adequately recognize. These include the power of incentives and capitalism’s adaptability to varying morals, ideals, and cultures. Meltzer argues that while capitalism is not perfect, it is the best option for providing growth and personal freedom. Gerardo Serra finds while the conciseness and the clarity of the book certainly make it an appealing reading, the author has surprisingly little to recommend when it comes to policies.