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Edmund Phelps on Capitalism

By on 9.23.09 @ 4:45PM

The Nobel-winning Columbia economist Edmund Phelps has a provoking essay in the October issue of First Things. Phelps notes that the arguments over morality in capitalism vs. socialism tend to focus on growth vs. distribution and inequality. But Phelps identifies another factor, often ignored: the human need for sel-expression and innovation that is only met in capitalism. Read it here.

About the Author

Joseph Lawler was formerly managing editor of The American Spectator. Follow him on twitter: @josephlawler.

http://spectator.org/blog/2009/09/23/edmund-phelps-on-capitalism

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