It’s silly to think businesses and CEOs are evil and greedy, but ordinary customers are helpless victims.
Last Christmas, Pope Francis criticized holiday consumerism, saying that ours is “a society often intoxicated by consumerism … wealth and extravagance.”
To understand why this sort of critique is mistaken, and why consumerism and capitalism deserve our love at Christmastime and throughout the year, we need to go back to basics.
Learn Liberty recently released a video titled “What if There Were No Prices? Railroad Thought Experiment” with Professor Howard Baetjer of Towson University. The video argues that market prices communicate the value of goods and services in the economy so that those goods and services are allocated to their most productive (and value generating!) uses. […]