- Paperback: 234 pages
- Publisher: Lexington Books; New Ed edition (November 1, 2005)
- Language: English
- ISBN-10: 073911364X
- ISBN-13: 978-0739113646
- Product Dimensions: 6 x 0.7 x 8.5 inches
- Shipping Weight: 14.7 ounces (View shipping rates and policies)
- Average Customer Review: 6 customer reviews
- Amazon Best Sellers Rank: #3,162,870 in Books (See Top 100 in Books)
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Markets Don't Fail! New Ed Edition
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Markets Don't Fail! is akin to works such as Henry Hazlitt's Economics in One Lesson, or Frederic Bastiat's The Law, not only in terms of the free market ideas it espouses, but also given its clear writing style, its reasonable length, and its staunch defense of unregulated economic activity. This book is a significant contribution in economics. It is the first and only such book written from the perspective of Objectivism, the philosophy of Ayn Rand, which has provided a strong impetus for a revival of classical liberalism, based on individual rights and limited government. The writer has remained focused on his defense of markets on the basis of individualism. He has used sound scholarship to advance his case and he clearly knows the material and, thankfully does not burden the text with footnotes for the sake of footnotes. This is the only contemporary text that has taken this approach and is accessible to the beginning student. (John Lewis, Ashland University)
Too many economics textbooks allege instances of market failure and call for government intervention while ignoring government failure. Markets Don't Fail! demolishes allegations of market failure and demonstrates that . . . market allocation of resources is the superior alternative. (Walter E. Williams, George Mason University)
A skillful blending of economics with its foundations in philosophy....This book defends the market economy against the many attacks made today by contemporary economists. Ranging from the theory of economic monopoly and its basis in the doctrine of pure and perfect competition to the theory of asymmetric information, the author point by point thoroughly demolishes the myriad varieties of alleged market failure. (Jerry Kirkpatrick, Professor, International Business & Marketing, California State Polytechnic University)
This is a rare book on economics that grounds its support of a free market in an explicit code of morality―-the ethics of rational egoism. The intellectual support of capitalism requires more such books..... (Andrew Bernstein, author of The Capitalist Manifesto: The Historic, Economic and Philosophic Case for Laissez-Faire)
This book is a refreshingly clear text that illustrates the real-world benefits of laissez-faire capitalism. Dr. Simpson uses powerful logical arguments and illustrative examples to make a bulletproof case for the free market. He provides an easily understandable description of competition and monopoly, and shows that monopolies cannot arise in the free market. Dr. Simpson does an excellent job explaining a complex topic that involves so many issues. More importantly, he succeeds in convincing people of the validity of his claims. Everyone should own a copy of Markets Don't Fail! if they want to make sense of the crucial issues concerning the free market. (Michael Dwyer, Adams State College)
This is a rare book on economics that grounds its support of a free market in an explicit code of morality―-the ethics of rational egoism. The intellectual support of capitalism requires more suchbooks. (Andrew Bernstein, author of The Capitalist Manifesto: The Historic, Economic and Philosophic Case for Laissez-Faire)
So expertly written as to be accessible for even the non-specialist general reader with an interest in how free markets work, and concluding with an epilogue, Markets Don't Fail! is enhanced with a substantive bibliography and a comprehensive index. (Midwest Book Review)
Simpson's book is a most valuable contribution and I recommend it to all students of economics. Simpson is a gifted student of George Reisman, and he has been much influenced by Reisman's great treatise Capitalism. (David Gordon The Mises Review)
About the Author
Brian P. Simpson is Assistant Professor in the School of Business and Management at National University.
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Even though the author makes great pains to stress that the effects on people is not the basis for why we should value his beliefs--this is in fact an outcome of embracing TRUE capitalism (emphasis added because there are a lot of pretenders...as if anyone who thinks Donald Trump is a capitalist really has no clue).
The truth (though one would never know it from traditional media) is that CAPITALISM (emphasis added) is the best system for people and for the protection of individual rights (which is the foundation of all that is good).
Communism (or its 'gateway drug' Socialism) is evil and we have plenty of controlled experiments to prove this fact (east/west Germany, north/south Korea)...so I will not even begin to prove this assertion as it is evidenced in FACT.
Don't buy into the people who think that if you believe in the protection of individual rights and free markets that you are some kind of "robber baron".
Seriously, it is time the human race threw off insane ideas in Economics similar to "the earth is flat" and finally embraced the fact that Capitalism is simply a reflection of nature and how to best allocate resources. Individuals are still free to choose where to apply their focus/values and can surely choose between flying to Thailand to have sex with young girls or using their resources to do good...
I believe and advocate that we all should shine the light of TRUTH on those that choose unwisely however it is wrong to put some bureacrat in charge (or think government can regulate wisdom) as haven't seen enough examples of the depravity of "washington" to know that "serving the public good" is cited by the most depraved...
Capitalism (and free markets) is simply the way to respect individual rights and be the only moral system to provide the most efficient allocation of resources, though ultimately people (as thinking/sentient beings) must still do their part.
If you want to by a 64 ounce Mountain Dew every 3 hours...knock yourself out.
If you want to abuse or infringe on my liberty of any other human--go #%#@ yourself.
Markets do NOT fail...and those that still think that bureacrats should decide (and set) prices do not realize that they are in fact advocating "hell on earth" for everyone else (as argued by the author). Intentions do not matter in science--all that matters is reality adn it is time we all put to rest that
I am not saying that we should all accept the ultra rich driving 200' luxury boats and we should all bow down and worship them as "job creators"...good grief...NO.
I am saying that we should advocate for TRUE capitalism in which an idiot with a lot of money and no fresh ideas are soon parted with their money if they must produce VALUE instead of being able to lobby Congress and get contracts and/or favorable treatment.
Read this book...which if you read with an "open mind" (inspite of your 1000 hours of cartoons and 'silly puddy' programming'), it will change perspective and outlook in life.
Economics is science governed by natural laws and it is about time the so-called people understand this fact. Your defense of socialism or worse still naive communism is not helping humanity move forward.
Again, Markets do not fail...people do...and worst of all the people who we think are doing the "public good".