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A Capitalist Manifesto: Understanding The Market Economy And Defending Liberty
Book by Wolfram, Gary
150 pages, Paperback
First published November 6, 2012
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145 people want to read
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Displaying 1 - 15 of 15 reviews
June 14, 2013
A Capitalist Manifesto –Understanding the Market Economy and Defending Liberty by Gary Wolfram
In March, I attended a 2 day seminar put on by Hilldale College. One of the three featured speakers was Gary Wolfram. I was unfamiliar with him before the seminar. He was entertaining, articulate and insightful. Economics has never really been an area of interest for me. But since the quality of our lives are so tied to our livelihood, and since more and more of our economy is controlled by the government, I bought this book.
If you do read this book, be prepared to review some of the basic economic lectures you had in college. Demand, supply and pricing are the stuff of economics. At first, I was a bit bored with the book. But as I continued on, Wolfram began to paint a picture of the economy from an historical perspective. He incorporates writings of many of the economic thinkers and philosophers of the past 300 years.
My comments…
In the simplest terms, as we permit government to control more and more of the economy, we reduce incentive for risk taking and capital formation. Even our basic urges for charity become corrupted in a way that we depend on Big Brother to care for the needs of the less fortunate.
There are large disparities in the free market system. There are always rich and poor. But in even case, the poor in free market systems live at a standard far above the poor in centralized economies. In other words, the most good can be achieved by the most people when there are fewer barriers to upward movement.
Book Summary…
Each chapter is written in a short, concise manner and this book is a breeze to read through. There are many perils in the writing as well. I plan to come back to some of the chapters over and over to deepen my understanding of what the heck is happening to me, my money, my government and the economy.
I do recommend this book for those interested in economics, liberty, the Keynsian economic theory, Friedrich Hayek, etc.
Some of Dr. Wolfram's current articles can be read here (http://spectator.org/people/gary-wolf...)
In March, I attended a 2 day seminar put on by Hilldale College. One of the three featured speakers was Gary Wolfram. I was unfamiliar with him before the seminar. He was entertaining, articulate and insightful. Economics has never really been an area of interest for me. But since the quality of our lives are so tied to our livelihood, and since more and more of our economy is controlled by the government, I bought this book.
If you do read this book, be prepared to review some of the basic economic lectures you had in college. Demand, supply and pricing are the stuff of economics. At first, I was a bit bored with the book. But as I continued on, Wolfram began to paint a picture of the economy from an historical perspective. He incorporates writings of many of the economic thinkers and philosophers of the past 300 years.
My comments…
In the simplest terms, as we permit government to control more and more of the economy, we reduce incentive for risk taking and capital formation. Even our basic urges for charity become corrupted in a way that we depend on Big Brother to care for the needs of the less fortunate.
There are large disparities in the free market system. There are always rich and poor. But in even case, the poor in free market systems live at a standard far above the poor in centralized economies. In other words, the most good can be achieved by the most people when there are fewer barriers to upward movement.
Book Summary…
Each chapter is written in a short, concise manner and this book is a breeze to read through. There are many perils in the writing as well. I plan to come back to some of the chapters over and over to deepen my understanding of what the heck is happening to me, my money, my government and the economy.
I do recommend this book for those interested in economics, liberty, the Keynsian economic theory, Friedrich Hayek, etc.
Some of Dr. Wolfram's current articles can be read here (http://spectator.org/people/gary-wolf...)
February 17, 2015
This book is great! an easy short read, packed with SO much information about general Economic theories, Keynesian vs Austrian theories, Governments impact on the Economy etc. if the Economy scares you, and economics is confusing read this, and take the Hillsdale Econ101 FREE online course. you will learn so much.
July 26, 2016
This is a great, easy to read book. I am also taking his class, Economics 101 at Hillsdale College on line. I would recommend it to everyone.
Read
August 10, 2020☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ COMMUNISM FTW☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭ ☭
June 26, 2024
This was a great introduction to the world of economics! It was pretty readable, but I don't know if I would recommend this to someone who has no idea about economics. Some background is helpful, but the author presents the concepts clearly to a new economist if the reader is willing to focus and think through the text. I appreciated learning the views of Keynesian economics and the Austrian School of Eocnomics. I am taking the free online course given by this author through Hillsdale College. I would highly recommend reading this alongside the lectures for a complete understanding.
August 6, 2025
An Economics 101 textbook written by Hillsdale College professor Gary Wolfram and used in a Hillsdale online course of the same name. A must read for anyone seeking knowledge of market economics and the terminology used by the talking heads on news broadcasts. Central planned economies vs. market economies, supply and demand, Keynesian vs. Austrian, free society vs. socialism, malinvestment, monetarism, supply side, GDP, recession and other concepts are fully explained.
March 27, 2018
A surprisingly good intro economics book. A short read that covers supply and demand, business cycles, and even open market operations.
May 27, 2018
A very enjoyable and quick read on economics and how the economy works best in the free market. I am so thankful that it also covers, though briefly Austrian Economics. Highly recommend.
December 6, 2019
Well done
Great introduction to the free market economy and Austrian School and the business cycle. Very fun read and entertaining examples.
Great introduction to the free market economy and Austrian School and the business cycle. Very fun read and entertaining examples.
Read
February 19, 2022Worth reading for those who have not learned why it works so well.
December 24, 2023
A concise and very readable summary of the basic laws of economics and the principles behind a free market.
March 19, 2020
I took the (free, not-for-credit) online Economics 101 course from Hillsdale, taught by Professor Wolfram.
https://online.hillsdale.edu/landing/...
(about 5 hours total lecture time).
I loved it so followed up by reading his book.
“If (profits) are taxed away there is no incentive for me to take the risk of financing your idea. By taxing away firms’ profits we are not merely taking away assets from the wealthy, but also are subjecting every person in the economy to higher prices, fewer goods, and misuse of our precious resources. A tax on profit will have effects that will make us all poorer in the long run.” -p. 46
“The hard fact is that government cannot create wealth, it can only seize and redistribute it...We have to examine every government proposal and program with the view that anything government gives to one person must be taken from another.” -p. 55
“Mises showed...that market economies will always vastly outperform planned economies. The result is that even the poorest of those in a market economy will be better off than most of those in a planned economy.” -p. 48
“Freedom is best maintained by limiting a government’s coercive power to instances where it is needed to prevent other persons from coercing us… the role of government is to protect life, liberty, and property.” -p. 60
“Mises...pointed out with great clarity that a social order based on individualism and free exchange is inconsistent with armed aggression. Such a society leads not only to economic progress, but also to world peace.” -p. 74
“Hayek taught us that individual liberty, and the responsibility that goes along with it, creates the most efficient use of knowledge and the most productive society…
Bastiat advised: ...Governments that concentrate on protecting the individual from threats by other members of society and do not use coercive force to take from one member of society to give to another are ‘just’ governments.” -pp. 120-1
https://online.hillsdale.edu/landing/...
(about 5 hours total lecture time).
I loved it so followed up by reading his book.
“If (profits) are taxed away there is no incentive for me to take the risk of financing your idea. By taxing away firms’ profits we are not merely taking away assets from the wealthy, but also are subjecting every person in the economy to higher prices, fewer goods, and misuse of our precious resources. A tax on profit will have effects that will make us all poorer in the long run.” -p. 46
“The hard fact is that government cannot create wealth, it can only seize and redistribute it...We have to examine every government proposal and program with the view that anything government gives to one person must be taken from another.” -p. 55
“Mises showed...that market economies will always vastly outperform planned economies. The result is that even the poorest of those in a market economy will be better off than most of those in a planned economy.” -p. 48
“Freedom is best maintained by limiting a government’s coercive power to instances where it is needed to prevent other persons from coercing us… the role of government is to protect life, liberty, and property.” -p. 60
“Mises...pointed out with great clarity that a social order based on individualism and free exchange is inconsistent with armed aggression. Such a society leads not only to economic progress, but also to world peace.” -p. 74
“Hayek taught us that individual liberty, and the responsibility that goes along with it, creates the most efficient use of knowledge and the most productive society…
Bastiat advised: ...Governments that concentrate on protecting the individual from threats by other members of society and do not use coercive force to take from one member of society to give to another are ‘just’ governments.” -pp. 120-1
June 23, 2013
Dr. Wolfram is probably a good college economics professor, and he and I agree on pretty much all of his theses, political and economic. I probably would have enjoyed his economics classes much more than those I took in college. I enjoy economics a great deal, but economics professors, in my experience, are not a humorous bunch. Dr. Wolfram is certainly ahead of the pack in that respect, and he's a committed capitalist, which is as laudable as it is rare in his profession.
But this book is so sloppily written, carelessly edited, and even poorly typeset and printed, that it reduces the positive impact it might have otherwise had. It's too short in some sections, too long in others, and just doesn't flow. It's about half the first 2 classes of a freshman microeconomics course, and the rest some fairly well-meant but uninspired parroting of better writers.
It doesn't help that the last 1/3 or so of the book is an extract of the author's "latest political thriller," which is even worse-written than the main text.
There are much better writers doing this sort of thing better, notably Thomas Sowell (a national treasure) and Kevin D. Williamson, among others. This book was a disappointment.
But this book is so sloppily written, carelessly edited, and even poorly typeset and printed, that it reduces the positive impact it might have otherwise had. It's too short in some sections, too long in others, and just doesn't flow. It's about half the first 2 classes of a freshman microeconomics course, and the rest some fairly well-meant but uninspired parroting of better writers.
It doesn't help that the last 1/3 or so of the book is an extract of the author's "latest political thriller," which is even worse-written than the main text.
There are much better writers doing this sort of thing better, notably Thomas Sowell (a national treasure) and Kevin D. Williamson, among others. This book was a disappointment.
September 15, 2014
Professor Wolfram is a BOSS. His class (political econ) is one that I never thought I would take, but it's actually one of my most interesting classes this semester.
Imagine that...
(Magic, I tell you. Magic. Fate, as we have agreed, seems to hate me, but the obvious magic of the universe here is quite fabulous.)
Imagine that...
(Magic, I tell you. Magic. Fate, as we have agreed, seems to hate me, but the obvious magic of the universe here is quite fabulous.)
July 22, 2015
Intetesting and accessible description of the conservative view of economics.
Displaying 1 - 15 of 15 reviews