What Is Capitalism? (with Mike Munger)
What is capitalism, really? Drawing on Adam Smith, Douglass North, and his own experience as a teacher and economist, economist Michael Munger of Duke University discusses three stages of economic development with EconTalk’s Russ Roberts: voluntary exchange, markets, and capitalism. Along the way, the conversation explores the moral and institutional foundations that make impersonal exchange possible, […] The post What Is Capitalism? (with Mike Munger) appeared first on Econlib.