Why Markets Don’t Fail
Jul 10, 2004
This course—based on a forthcoming book titled Markets Don’t Fail!—addresses some of the popular arguments made by economists and other intellectuals against the free market. For each topic, Dr. Simpson describes what the claim against capitalism is, then shows why the claim is invalid and finally shows why capitalism actually succeeds with respect to the issue involved. A significant portion of the course involves exposing the invalid premises underlying the claims of market failure and providing a proper basis upon which to judge capitalism. Some of the topics pertaining to alleged market failure include: monopoly, antitrust laws, predatory pricing and “externalities.” This course will help improve one’s understanding of capitalism and provide one with greater intellectual ammunition with which to defend capitalism.