An economy oriented toward production for market exchange provides the optimal conditions for long-lasting and ever-expanding productive capacity based on modern technology.

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.

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

If the cultural elite has its way, the U.S. will be much more like Europe

Some people think that as the Chinese economy becomes more and more capitalistic it will inevitably become more democratic

It has been true in Western societies and it seems to be true elsewhere that you do not find democratic systems apart from capitalism, or apart from a market economy, if you prefer that term

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