October 10, 2006
Phelps on Entrepreneurial Capitalism and Everything Else
2006 Nobel Laureate in Economics Edmund S. Phelps has a full page op-ed in the Wall Street Journal today (Oct. 10) laying out his vision of dynamic, entrepreneurial capitalism and economic justice. It is particularly helpful as a guide to the distinctions between U.S. and European attitudes toward the market, even among business people. Along the way, there are references to Hayek, D.H. Lawrence, Aristotle, Cervantes, Kant, Schumpeter, Ayn Rand, Tocqueville and Rawls.
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