The Virtues of Capitalism: A Moral Case for Free Markets

In the aftermath of the recent economic downturn, some observers leveled harsh criticism against free-market economies. In the spring of 2009, for instance, an article in the The London Telegraph insisted that the industrialized West must re-articulate its moral case for market capitalism. Additionally, numerous commentators proclaimed the days of unfettered markets to be over.

In this timely and balanced book, Austin Hill and Scott Rae agree with capitalism's critics that the economy is es...