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The Moral and Economic Case for Free Markets. Art Carden and Keith Knight
Description
Art Carden is a professor of economics at the Brock School of Business at Samford University.
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0:00 – Quote
1:07 – Why some countries are wealthy and others are impoverished, “The Great Enrichment”
4:18 – Do free markets breed exploitation of the weak by the strong?
6:16 – How to measure wealth or standard of living?
7:50 – Free markets = materialism
10:13 – The innovation double standard
12:32 – “Freedom means not caring about the long term results of your actions”
16:00 – “Slavery and colonialism caused the west to grow rich”
20:32 – Who protects the workers?
22:32 – Who protects the consumer?
26:38 – The moral difference between the state and the free market
29:51 – Criticisms of the free market THAT ARE UNIQUE to the free market
32:12 – Best lessons from Adam Smith