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Is Capitalism "Pro-Business?"

In this video, Professor Steve Horwitz advocates for free market economic policy. He refutes the often recited claim that "What is good for General Motors is good for America" by explaining that pro-business legislation encourages behavior that is not beneficial to society or the business itself. He suggests that, in a free market, factors such as profit and competition encourage behavior that ultimately benefits society. Professor Horwitz illustrates that pro-business legislation restricts progress and therefore caters to the interests of industry rather than to consumers, whereas "supporters of free markets are ultimately pro-human and pro-people because it is through markets that we get the most innovation and we get the most goods and the cheapest prices."


Added: Aug-7-2012 Occurred On: Aug-7-2012
By: Yukon6400
In:
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Tags: Economics, Business, capitalism, Learnliberty, Learn Liberty,
Location: United States (load item map)
Marked as: approved
Views: 653 | Comments: 6 | Votes: 1 | Favorites: 1 | Shared: 0 | Updates: 0 | Times used in channels: 1
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  • all fine and dandy until one entity grows so large it suffocates all competition, stifles innovation and leaves consumers with no other choices. We already went through this stage in our evolution as an economy and addressed it with Antitrust laws like the Sherman Act to prevent corporate monopolies. But if some Conservatives get their way and get rid of those pesky federal laws, it'll be right back to the good old Victorian days of Standard Oil and US Steel.

    Posted Aug-7-2012 By 

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    • @picklethepug really? the first comment is anti-business? pretty sure the government isn't on your side either buddy..umh, Drug War, NDAA, eminent domain, enacting sneak & peek warrants, no-knock warrants, Dept of Homeland Sec as a whole, the Patriot Act, SOPA, EPA, ATF, IRS etc...but I'm sure they for the "greater good" huh?

      "I'm from the government and I'm here to help"<-----worst words you could possibly here..

      Posted Aug-7-2012 By 

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    • @EgotismAtItsFinest
      What the fuck are you talking about? Laws against Corporate monopolies that strangle free enterprise and destroy the competition that is essential to a properly functioning capitalist economy have nothing to do with the Patriot Act or No Knock Warrants. Time to put down the gasoline soaked rag.

      Posted Aug-7-2012 By 

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  • Slave labor wins.

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  • Dude keeps staring at my left ear.

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  • Regulation also prevented companies from stifling the competition. Remember why we got the RICO laws.

    Posted Aug-7-2012 By 

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