This issue of The Freeman examines the foundations of a market economy, emphasizing voluntary cooperation, consumer-driven production, and the moral case for individual achievement. It critiques Marxian distortions of capitalism, explains how political intervention disrupts labor markets, and shows why wages reflect productivity rather than coercive bargaining. Additional essays explore the dangers of state-directed capital accumulation, the economic consequences of protectionism, and the enduring logic behind free banking as an alternative to partial deregulation. Classic stories and commentary illustrate how interventionism breeds scarcity, while book reviews consider works on political culture, management, and the ethics of wealth.
