Mr. Rubenstein, you’re no Adam Smith

posted by
January 29, 2012
Ludwig von Mises Institute
by James E. Miller  
Posted in Commentary

"Perhaps the most succinct definition of capitalism comes down to this: a state of affairs where two private parties are free to enter into a contract where one acts and the other remunerates. As the Austrian School emphasizes, such a mutual agreement means both parties are necessarily better off than before or else such a transaction would not have taken place." (01/27/12)  

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