Toward a Truly Free Market

by Medaille, John C.

• ISBN13: 9781610170277
• ISBN10: 161017027X
• Format: Paperback
• Copyright: 2011-07-10
• Publisher: Isi Books

Summary

Taking ;free markets ; from rhetoric to reality For three decades free-market leaders have tried to reverse longstanding Keynesian economic policies, but have only produced larger government, greater debt, and more centralized economic power. So how can we achieve a trulyfree-market system, especially at this historical moment when capitalism seems to be in crisis? The answer, says John C. Médaille, is to stop pretending that economics is something on the order of the physical sciences; it must be a humanescience, taking into account crucial social contexts. Toward a Truly Free Marketargues that any attempt to divorce economic equilibriumfrom economic equitywill lead to an unbalanced economy-one that falls either to ruin or to ruinous government attempts to redress the balance. Médaille makes a refreshingly clear case for the economic theory-and practice-known as distributism. Unlike many of his fellow distributists, who argue primarily from moral terms, Médaille enters the economic debate on purely economic terms. Toward a Truly Free Marketshows exactly how to end the bailouts, reduce government budgets, reform the tax code, fix the health-care system, and much more.

Author Biography

John C. Mdaille is the author of The Vocation of Business: Social Justice in the Marketplace and an instructor at the University of Dallas. He writes and lectures frequently on economics and has more than thirty years' business experience.

Table of Contents

What's in a Name?	p. 1
If It Ain't Broke …	p. 11
Political Economy as a Science	p. 23
The Purpose of an Economy	p. 35
Equilibrium, or The Tao of Economics	p. 45
Justice and the Political Economy	p. 59
The Fictitious Commodities: Money	p. 71
The Fictitious Commodities: Labor	p. 91
The Fictitious Commodities: Land	p. 101
Property as Proper to Man	p. 113
The Just Wage as the Key to Equilibrium	p. 125
Taxes and Tax Reform	p. 139
The Proper Role of Government	p. 151
The Cost of Government	p. 163
Taxes, Economic Rent, and Externalities	p. 179
Distributism and Industrial Policy	p. 191
Distributism and the Health Care System	p. 207
The Practice of Distributism	p. 223
Building the Ownership Society	p. 235
Notes	p. 255
Select Bibliography	p. 263
Index	p. 267
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