Ep. 1339 The Wrong Way to Argue for the Free Market

Friends and foes of the market alike refer to capitalism as a system of "competition." Is that really its characteristic feature, and is that what distinguishes it from other systems? This is actually a misunderstanding, and one that probably turns plenty of people off to the market. What's the right way to think about and explain it? That's what Antony Sammeroff and I discuss in this episode.