Making The Case (Again) For Business

by Pejman Yousefzadeh on December 18, 2009


I am all for maintaining that there is a fundamental difference between being pro-free market, and pro-business. Too many times, businesses have engaged in rent-seeking–either through demands for quotas and tariffs on competitors, or for out-and-out subsidization of their activities. The business sector can be as anti-free market as any other sector, and alas, it has been more often than it ought to care to admit.

That having been written, it certainly is the case that business has been demonized excessively in recent times. As Schumpeter writes, that demonization campaign overlooks some very good and important points in favor of the general business community. We ignore those points at our peril.

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