In Defense of Capitalism

Rainer Zitelmann examines the ten most common objections to capitalism: capitalism leads to hunger and poverty, to rising inequality, to unnecessary consumption, to environmental destruction, to climate change, and wars. Capitalism, its critics say, prioritizes profits over humanity, creates dominant monopolies, and undermines democracy. Zitelmann scrutinizes each of these arguments in turn and reveals the critical flaws that debunk them. He offers counter arguments to each charge, deploying a wealth of historical evidence and eye-opening facts to prove that it is not capitalism that has failed, but a century of anti-capitalist experiments. The second part of the book explores popular perceptions of capitalism in Europe, the USA, Latin America, and Asia and is based on a specially commissioned Ipsos MORI poll of 21 countries, the results of which are presented here for the first time.