East Asia confirms the superior capacity of industrial capitalism in raising the material standard of living of large masses of people.

If you say simply that pressures toward democracy are created by the market, I would say yes

But we don't have an example of a democratic society existing in a socialist economy - which is the only real alternative to capitalism in the modern world.

Institutions provide procedures through which human conduct is patterned, compelled to go, in grooves deemed desirable by society. And this trick is performed by making these grooves appear to the individual as the only possible ones.

The past is malleable and flexible, changing as our recollection interprets and re-explains what has happened.

The negative side to globalization is that it wipes out entire economic systems and in doing so wipes out the accompanying culture

F. A. Hayek is probably the most prominent advocate of capitalism in the present period.