Blog post from London School of Economics & Political Science
Abstract
The 2008 financial crisis gave rise to sustained criticism of capitalism as an economic system, with many of its advocates conceding that while an immoral system, it is also a ‘necessary evil’. Reflecting on the writings of Ayn Rand, Yaron Brook and Don Watkins reject this view, and instead argue that capitalism is a necessary good. They maintain that capitalism is the only social system that takes into account people’s rationality, enabling them to survive and prosper through self-interest