Dynamic Capitalism

October 11, 2006 by element115
Edmund S. Phelps, the McVickar Professor of Political Economy at Columbia, was Monday awarded the 2006 Nobel Prize for economics.

I conclude that capitalism is justified--normally by the expectable benefits to the lowest-paid workers but, failing that, by the injustice of depriving entrepreneurial types (as well as other creative people) of opportunities for their self-expression.
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