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#19
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ECONOMIC INDIVIDUALISM
Here's
how I see economics and what I believe: Market system transactions involve participants rationally
considering various options, and making decisions based on economic self
interest. As the availability of resources, jobs, products
and market conditions change, workers, employers, producers,
buyers, sellers, etc. compete to maximize gain.
Competition, whether for the most gain, best job, or
whatever, promotes efficiency, stimulates people to work hard, innovate, and
take chances. I believe that the right to pursue self interest is morally defensible, and that the
right to own private property should be protected by law. Market
system exchanges are voluntary -- the only legal coercion
is mandated by the government.
Related Words, Beliefs,
Background -- 39 entries
Discussion from The Worldview
Literacy Book
|
More to Explore -- Worldview Theme #19: Economic
Individualism |
|
Capitalism
(from online encyclopedia) |
|
The Market System
(from online encyclopedia) |
|
Behavioral
Economics (from online encyclopedia) |
|
Informal Economy
(from online encyclopedia) |
|
Capitalism, A Love Story,
the film by Michael Moore (from online encyclopedia) |
|
Human Action: A
Treatise on Economics by L. von Mises (on this 1966 classic book from
online encyclopedia) |
|
What is a Free
Market System? |
|
What
is a Market Economy?, by Michael Watts (on U.S. State Dept. site) |
|
Economic
Individualism, by James Fitzpatrick (Catholic perspective /
critique) |
| The
Intellectual Voice of Capitalism |
| On
Capitalism ed. Victor Nee and Richard Swedburg (more on this 2007 book
from Stanford Univ. Press) |
| Economics
A-Z Encyclopedia: Competition (sponsored by the Economist magazine) |
| Competition:
Economics & Business Competition (from online encyclopedia) |
| The
Adam Smith Institute |
| Capitalism,
by Robert Hessen (on Economics & Liberty site-- see also
"Free Market" and "Competition" on this site) |
| Corporations,
by Robert Hessen |
| Rethinking
the Economics of Self Interests |
| Religion,
Economics, and the Market Paradox |
| "Crony
Capitalism Has Killed the Free Market and Democracy" (2011 report
on David Stockman's opinion) |
| The Invisible
Hook: The Hidden Economics of Pirates by Peter T. Leeson (excerpts
of 2009 book at Google Books) |
| "The
Myth of the Rational Market," by Justin Fox (article in Time
June 22 2009) |
| Moral
Markets: The Critical Role of Values in the Economy, ed. Paul J. Zak
(more on this 2008 book) |
| The
Mind of the Market, by Michael Shermer (more on this 2007 book) |
| Manias, Panics, and Crashes, by Charles Kindleberger
(commentary from The Economist on classic book ) |
| In
Defence of Individualism (excerpt from the book from Edinburgh
University Press) |
| The
Fear of Individualism, by Tibor Machan |
| Gandhian
Economics: The Economics of Altruism vs. the Economics of Greed |
| "Greed"
by Julian Edney (2004 essay about the origins, nature, extent and
morality of this free market force) |
| The
Center for Ethics, Capital Markets, and Political Economy |
| U.S.
Financial Literacy and Education Commission |
| Mutualism
(from online encyclopedia) |
| quotes
related to capitalism |
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Marketplace to
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theme, WV Theme #20
"As you shop in "The Reality Marketplace" avoid
spending your "reality cash" too early, before you have
seen
everything. "
from Coming of Age in the Global Village,
by
Stephen P. Cook, with Donella H. Meadows.