Free Enterprise

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Free Enterprise
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Literature Review

The promotion of Free Enterprise as an American ideal originates in libertarian and conservative responses to the New Deal. Rippa (1958, 1959) shows how free enterprise was promoted in school textbooks. St. John (2010) examines its promotion in newspapers. Fines-Wolf (1994) examines the promotion of free enterprise ideals by National Association of Manufacturers (NAM) in the post-war period.

The ethics of the free enterprise system has also been a subject of discussion.

Erteszek (1982) asserts that "the moral basis of a free enterprise system faces both new and persistent challenges... these challenges cannot be met without a new, ethical vision of private enterprise, and a reconfiguration of the moral purpose of corporate life... The experience of history indicates that man will not act nobly, with compassion and fidelity, simply out of enlightened self-interest... the new vision needed by modern man and woman is to be found not in self-interest but in Judeo-Christian virtues... the Judeo-Christian system has the power to transform modern man and to stimulate him to a life of service, stewardship and compassion."

Wishloff (2003) argues that "an economic system of responsible free enterprise.. [would] be accompanied by a sense of social and moral responsibility which might have to be encouraged and enforced by the government... Our enterprises, taken as a whole, are not fulfilling their social and moral responsibilities... the root cause of [this problem is] adherence to the metaphysics of material scientism... Common sense realism is proposed as a more suitable alternative."

Free Enterprise as Response to New Deal

St. John III, Burton. 2010. “A VIEW THAT’S FIT TO PRINT: The National Association of Manufacturers’ Free Enterprise Rhetoric as Integration Propaganda in The New York Times, 1937–1939.” Journalism Studies 11 (3): 377–392.

@article{st._john_iii_view_2010, title = {A {VIEW} {THAT}'{S} {FIT} {TO} {PRINT}: {The} {National} {Association} of {Manufacturers}' free enterprise rhetoric as integration propaganda in {The} {New} {York} {Times}, 1937–1939}, volume = {11}, shorttitle = {A {VIEW} {THAT}'{S} {FIT} {TO} {PRINT}}, url = { }, abstract = {This study examines the appearance of National Association of Manufacturers'(NAM) propaganda, from 1937 to 1939, in articles within The New York Times. NAM's ability to place such rhetoric in The New York Times reveals both the presence of integration propaganda and the beginning of a press acclimation to propaganda as news. This examination reveals a crystallizing of professional journalism's reliance on authoritative, yet propagandistic sources, a dynamic that persists to this day.}, number = {3}, urldate = {2017-07-19}, journal = {Journalism Studies}, author = {St. John III, Burton}, year = {2010}, pages = {377--392}, file = {Snapshot:files/39/14616700903290585.html:text/html} }

Rippa, S. Alexander. 1958. “The Textbook Controversy and the Free Enterprise Campaign, 1940-1941.” History of Education Journal, 49–58.

———. 1959. “Dissemination of the Free-Enterprise Creed to American Schools.” The School Review 67 (4): 409–21. doi:10.1086/442511.

@article{rippa_textbook_1958, title = {The textbook controversy and the free enterprise campaign, 1940-1941}, url = { }, abstract = {50 HISTORY OF EDUCATION JOURNAL attack upon the" anti-advertising" material which, it charged, had been" planted" in the social science textbooks. The editors as-serted that Rugg's textbooks implied that" advertising is an economic waste, that a high proportion of advertising is dishonest and that advertised products are pretty likely to be untrustworthy.'" 4 The following year the Nation's Business stated editorially that parents were still finding" chunks of unamericanism [sic]" in Rugg's textbooks. 5 While the textbook controversy ...}, urldate = {2017-07-19}, journal = {History of Education Journal}, author = {Rippa, S. Alexander}, year = {1958}, pages = {49--58} }

@article{rippa_dissemination_1959, title = {Dissemination of the {Free}-{Enterprise} {Creed} to {American} {Schools}}, volume = {67}, issn = {0036-6773}, url = { }, doi = {10.1086/442511}, abstract = {The free-enterprise campaign launched during the late thirties marked a significant turning point in relations between business and education in the United States. Beset by adverse publicity during the depression and deeply disturbed by New Deal victories, business leaders turned to the nation's schools in an effort to perpetuate the free-enterprise creed. The distribution of pamphlets to American youth and the preparation of audio-visual devices for use in classrooms were early signs of the sudden interest of business leaders in the ...}, number = {4}, urldate = {2017-07-20}, journal = {The School Review}, author = {Rippa, S. Alexander}, month = dec, year = {1959}, pages = {409--421}, file = {Snapshot:files/116/442511.html:text/html} }

Fones-Wolf, Elizabeth A. 1994. Selling Free Enterprise: The Business Assault on Labor and Liberalism, 1945-60. University of Illinois Press.

@book{fones-wolf_selling_1994, title = {Selling free enterprise: {The} business assault on labor and liberalism, 1945-60}, shorttitle = {Selling free enterprise}, url = { }, abstract = {During December 1951, half of the adult population of the industrial town of Latrobe, Pennsylvania, took regular breaks from work to study economics on company time. Employees from nineteen firms gathered in small groups to watch a series of films and to participate in discussions that focused on the values and symbols associated with the American way of life, including patriotism, freedom, individualism, competition, and abundance through increasing productivity. 1 That these firms halted production and}, urldate = {2017-07-20}, publisher = {University of Illinois Press}, author = {Fones-Wolf, Elizabeth A.}, year = {1994}, file = {Snapshot:files/97/books.html:text/html} }

Free Enterprise & Ethics

Erteszek, Jan J. 1982. “Corporate Enterprise and Christian Ethics.” Review of Social Economy 40 (3): 323–329.

@article{erteszek_corporate_1982, title = {Corporate enterprise and {Christian} ethics}, volume = {40}, url = { }, abstract = {Throughout the world, the moral basis of the free enterprise system faces both new and persistent challenges. It is convincing to a Christian and a man of business that these challenges cannot be met without a new, ethical vision of private enterprise, and a reconfiguration of the moral purpose of corporate life. By a new vision and a moral purpose, I mean a perception of the future that would develop the logic, stimuli, incentives, convictions and commitments which would lead to a more serving and more caring society, one that ...}, number = {3}, urldate = {2017-07-19}, journal = {Review of Social Economy}, author = {Erteszek, Jan J.}, year = {1982}, pages = {323--329}, file = {Snapshot:files/45/00346768200000034.html:text/html } }

Wishloff, Jim. 2003. “Responsible Free Enterprise: What It Is and Why We Don’t Have It.” Teaching Business Ethics 7 (3): 229–263.

@article{wishloff_responsible_2003, title = {Responsible free enterprise: {What} it is and why we don't have it}, volume = {7}, shorttitle = {Responsible free enterprise}, url = { }, abstract = {An economic system of responsible freeenterprise would (i) give individuals and groupsthe freedom to initiate, own and managebusiness undertakings and (ii) insist that suchundertakings be accompanied by a sense ofsocial and moral responsibility which}, number = {3}, urldate = {2017-07-19}, journal = {Teaching Business Ethics}, author = {Wishloff, Jim}, year = {2003}, pages = {229--263}, file = {Snapshot:files/50/10.html:text/html} }

Chewning, Richard C. 1984. “Can Free Enterprise Survive Ethical Schizophrenia?” Business Horizons 27 (2): 5–11.

@article{chewning_can_1984, title = {Can free enterprise survive ethical schizophrenia?}, volume = {27}, url = { }, abstract = {This century is seeing changes in our underlying philosophy—in how we view existence itself and our part in it, in how we know and accept facts, in what we consider right and wrong. Given these very basic changes in our culture, where will business as we know it go in the future?}, number = {2}, urldate = {2017-07-25}, journal = {Business Horizons}, author = {Chewning, Richard C.}, year = {1984}, pages = {5--11}, file = {[PDF] from - 1984 - Can free enterprise survive ethical schizophrenia.pdf:application/pdf;Snapshot:files/165/0007681384900028.html:text/html } }

Solomon, Robert C. 2006. “Free Enterprise, Sympathy, and Virtue.” Moral Markets: The Critical Role of Values in the Economy, 16–41.

@article{solomon_free_2006, title = {Free enterprise, sympathy, and virtue}, url = { }, abstract = {How selfish soever man may be supposed, there are evidently some principles in his nature, which interest him in the fortune of others, and render their happiness necessary to him, though he derives nothing from it except the pleasure of seeing it. Of this kind is pity or compassion, the emotion which we feel for the misery of others.... The greatest ruffian, the most hardened violator of the laws of society, is not altogether without it.}, urldate = {2017-07-25}, journal = {Moral markets: The critical role of values in the economy}, author = {Solomon, Robert C.}, year = {2006}, pages = {16--41}, file = {[PDF] from - 2006 - Free enterprise, sympathy, and virtue.pdf:application/pdf;Snapshot:files/162/books.html:text/html } }

Demsetz, Harold. 1978. “Social Responsibility in the Enterprise Economy.” Southwestern University Law Review 10: 1.

@article{demsetz_social_1978, title = {Social {Responsibility} in the {Enterprise} {Economy}}, volume = {10}, url = { }, abstract = {I wish to emphasize at the outset that this article does not present a general ethical system or a specific ethical code to guide business behavior. Too many philosophers and economists, good men and mediocre, have failed in their attempts to-define even" the fair price,"" the just wage," or" fair competition." My purpose is to describe the manner in which a free enterprise economy evaluates behavior, whatever the substantive content of such behavior may be}, journal = {Southwestern University Law Review}, author = {Demsetz, Harold}, year = {1978}, pages = {1}, file = {Social Responsibility in the Enterprise Economy 10 Southwestern University Law Review 1978:files/106/LandingPage.html:text/html } }

Barach, Jeffrey A., and John B. Elstrott. 1988. “The Transactional Ethic: The Ethical Foundations of Free Enterprise Reconsidered.” Journal of Business Ethics 7 (7): 545–551.

@article{barach_transactional_1988, title = {The transactional ethic: {The} ethical foundations of free enterprise reconsidered}, volume = {7}, shorttitle = {The transactional ethic}, url = { }, abstract = {A review of the evolution of the ethical foundations of free enterprise reveals the essentially utilitarian ethical foundation prevailing today. To enrich those foundations the article attempts to establish the ethical validity of free transactions by relating them to the basic principle of interpersonal ethics: the Golden Rule. The validity of the transactional ethic is presented as an articulation of freedom in a valid social and economic context.}, number = {7}, urldate = {2017-07-20}, journal = {Journal of Business Ethics}, author = {Barach, Jeffrey A. and Elstrott, John B.}, year = {1988}, pages = {545--551}, file = {Snapshot:files/86/10.html:text/html } }

Macfie, A. L. 1967. “The Moral Justification of Free Enterprise.” Scottish Journal of Political Economy 14 (1): 1–11.

@article{macfie_moral_1967, title = {The moral justification of free enterprise}, volume = {14}, url = { }, abstract = {ADAM SMITH'S theory has been chosen as a text simply because I know no better start from which to examine the issue before us. I have yet to find a more careful, thorough, detailed, realistic ethical argument for freedom in economic (among other) affairs than that he gives, in his Theory of Moral Sentiments, in his treatment of the virtues, prudence and self- command. True, we deal here only with the individual aspect; and this does justice neither to the facts nor to Adam Smith's full theory. But We have grossly inadequate time even for}, number = {1}, urldate = {2017-07-20}, journal = {Scottish Journal of Political Economy}, author = {Macfie, A. L.}, year = {1967}, pages = {1--11}, file = {Snapshot:files/90/full.html:text/html } }

William Baumol

Baumol, William J. 1968. “Entrepreneurship in Economic Theory.” The American Economic Review, 64–71.

———. 1996. “Entrepreneurship: Productive, Unproductive, and Destructive.” Journal of Business Venturing 11 (1): 3–22.

———. 2002. The Free-Market Innovation Machine: Analyzing the Growth Miracle of Capitalism. Princeton University Press.

@article{baumol_entrepreneurship_1968, title = {Entrepreneurship in economic theory}, url = { }, abstract = {The entrepreneur is at the same time one of the most intriguing and one of the most elusive characters in the cast that constitutes the sub-ject of economic analysis. He has long been recognized as the apex of the hierarchy that determinies the behavior of the firm and thereby bears a heavy responsibility for the vitality of the free enterprise society. In the writings of the classical economist his appearance was frequent, though he remained a shadowy entity without clearly defined form and function. Only Schumpeter and, to some degree}, urldate = {2017-07-19}, journal = {The American economic review}, author = {Baumol, William J.}, year = {1968}, pages = {64--71} }

@article{baumol_entrepreneurship:_1996, title = {Entrepreneurship: {Productive}, unproductive, and destructive}, volume = {11}, shorttitle = {Entrepreneurship}, url = { }, abstract = {The basic hypothesis is that, while the total supply of entrepreneurs varies among societies, the productive contribution of the society's entrepreneurial activities varies much more because of their allocation between productive activities such as innovation and largely unproductive activities such as rent seeking or organized crime. This allocation is heavily influenced by the relative payoffs society offers to such activities. This implies that policy can influence the allocation of entrepreneurship more effectively than it can influence its ...}, number = {1}, urldate = {2017-07-19}, journal = {Journal of Business Venturing}, author = {Baumol, William J.}, year = {1996}, pages = {3--22}, file = {[PDF] from - 1996 - Entrepreneurship Productive, unproductive, and de.pdf:application/pdf;Snapshot:files/48/088390269400014X.html:text/html} }

@book{baumol_free-market_2002, title = {The {Free}-market {Innovation} {Machine}: {Analyzing} the {Growth} {Miracle} of {Capitalism}}, isbn = {978-0-691-09615-5}, shorttitle = {The {Free}-market {Innovation} {Machine}}, abstract = {Why has capitalism produced economic growth that so vastly dwarfs the growth record of other economic systems, past and present? Why have living standards in countries from America to Germany to Japan risen exponentially over the past century? William Baumol rejects the conventional view that capitalism benefits society through price competition--that is, products and services become less costly as firms vie for consumers. Where most others have seen this as the driving force behind growth, he sees something different--a compound of systematic innovation activity within the firm, an arms race in which no firm in an innovating industry dares to fall behind the others in new products and processes, and inter-firm collaboration in the creation and use of innovations. While giving price competition due credit, Baumol stresses that large firms use innovation as a prime competitive weapon. However, as he explains it, firms do not wish to risk too much innovation, because it is costly, and can be made obsolete by rival innovation. So firms have split the difference through the sale of technology licenses and participation in technology-sharing compacts that pay huge dividends to the economy as a whole--and thereby made innovation a routine feature of economic life. This process, in Baumol's view, accounts for the unparalleled growth of modern capitalist economies. Drawing on extensive research and years of consulting work for many large global firms, Baumol shows in this original work that the capitalist growth process, at least in societies where the rule of law prevails, comes far closer to the requirements of economic efficiency than is typically understood. Resounding with rare intellectual force, this book marks a milestone in the comprehension of the accomplishments of our free-market economic system--a new understanding that, suggests the author, promises to benefit many countries that lack the advantages of this immense innovation machine.}, language = {en}, publisher = {Princeton University Press}, author = {Baumol, William J.}, year = {2002}, note = {Google-Books-ID: mYW5B4vnuUUC}, keywords = {Business \& Economics / Economics / General} }

Corporate Social Responsibility

Drucker, Peter F. 1984. “Converting Social Problems into Business Opportunities: The New Meaning of Corporate Social Responsibility.” California Management Review 26 (2): 53–63.

@article{drucker_converting_1984, title = {Converting social problems into business opportunities: {The} new meaning of corporate social responsibility}, volume = {26}, shorttitle = {Converting social problems into business opportunities}, url = { }, abstract = {Increasingly, "Social Responsibility of Business" in the years to come will no longer mean "Doing Good" or "Not Doing Harm." It will have to come to mean converting social problems into opportunities for profitable business}, number = {2}, urldate = {2017-07-19}, journal = {California management review}, author = {Drucker, Peter F.}, year = {1984}, pages = {53--63}, file = {Snapshot:files/55/scholar.html:text/html} }

Davis, Keith. 1960. “Can Business Afford to Ignore Social Responsibilities?” California Management Review 2 (3): 70–76. doi:10.2307/41166246.

@article{davis_can_1960, title = {Can {Business} {Afford} to {Ignore} {Social} {Responsibilities}?}, volume = {2}, issn = {0008-1256}, url = { }, doi = {10.2307/41166246}, abstract = {Few persons would deny that there are significant changes taking place in social, political, economic, and other aspects of modern culture. Some of these changes businessmen may want and others they may dislike, but in either instance the changes do exist and must be faced. As our culture changes, it is appropriate-even mandatory-that businessmen re- examine their role and the functions of business in society. One area undergoing ...}, language = {en}, number = {3}, urldate = {2017-07-20}, journal = {California Management Review}, author = {Davis, Keith}, month = apr, year = {1960}, pages = {70--76} }

Milton Friedman

Friedman, Milton, and Rose D. Friedman,. n.d. Free to Choose: A Personal Statement.

@book{friedman_free_nodate, title = {Free to {Choose}: {A} {Personal} {Statement}}, url = { }, author = {Friedman, Milton and Friedman,, Rose D.} }

Friedman, Milton. 2007. “The Social Responsibility of Business Is to Increase Its Profits.”

Bibliographic entry is incomplete & incorrect. Date is not date of original publication.

@article{friedman_social_2007, title = {The social responsibility of business is to increase its profits}, url = { }, urldate = {2017-07-20}, journal = {Corporate ethics and corporate governance}, author = {Friedman, Milton}, year = {2007}, pages = {173--178}, file = {[PDF] from - 2007 - The social responsibility of business is to increa.pdf:application/pdf;Snapshot:files/100/978-3-540-70818-6.html:text/html } }

Students' Hostility to Free Enterprise (from the late 1970s)

Kilpatrick, James L. 1975. “Why Students Are Hostile to Free Enterprise.” College Store Journal 42 (6): 92–3.

@article{kilpatrick_why_1975, title = {Why {Students} {Are} {Hostile} to {Free} {Enterprise}.}, volume = {42}, url = { }, abstract = {A Gallup study is described, which was commissioned by Oklahoma State Christian College regarding the philosophical orientation of college students generally (liberal or conservative). The author presents selected findings and concludes that students in the national random sample are ignorant of industrial life and generally hostile toward the incentive system.}, number = {6}, urldate = {2017-07-19}, journal = {College Store Journal}, author = {Kilpatrick, James L.}, year = {1975}, pages = {92--3} }

Metzner, Henry E., and Edwin C. Sims. 1978. “Student Attitudes toward the Free Enterprise System.” The Journal of Economic Education 10 (1): 46–50. doi:10.2307/1182166.

@article{metzner_student_1978, title = {Student {Attitudes} toward the {Free} {Enterprise} {System}}, volume = {10}, issn = {0022-0485}, url = { }, doi = {10.2307/1182166}, abstract = {Over 56 percent of the respondents to the survey felt large companies engaged in price fixing. An even larger proportion (72 percent) believed that American businesses sell consumers products the purchasers don't want or need. Over 85 percent of the students believed it was wrong for business to use corporate funds to influence government decisions. A majority (over 64 percent) of the respondents felt American business did not}, number = {1}, urldate = {2017-07-20}, journal = {The Journal of Economic Education}, author = {Metzner, Henry E. and Sims, Edwin C.}, year = {1978}, pages = {46--50} }

Reagan Administration

Cavanach, Gerald E. 1982. “Free Enterprise Values: Delayed Gratification or Immediate Fulfillment.” Review of Social Economy 40 (3): 330–339.

@article{cavanach_free_1982, title = {Free {Enterprise} {Values}: {Delayed} {Gratification} or {Immediate} {Fulfillment}}, volume = {40}, shorttitle = {Free {Enterprise} {Values}}, url = { }, abstract = {Lessened productivity along with inflation and unemployment are the principal problems currently facing the US economy. These problems are largely a result of a short-term, expedient time perspective. It is precisely with these issues in mind that President Ronald Reagan set in place an extensive program to deregulate. Government regulations and interference are expensive, intrusive and have been a principal reason for our slower economic growth, so the argument goes. Many of these regulations are unnecessary and .}, number = {3}, urldate = {2017-07-19}, journal = {Review of Social Economy}, author = {Cavanach, Gerald E.}, year = {1982}, pages = {330--339}, file = {Snapshot:files/60/00346768200000035.html:text/html} }

Adam Smith

Winch, Donald. 1991. “Adam Smith: The Prophet of Free Enterprise.” History of Economics Review 16 (1): 102–106.

@article{winch_adam_1991, title = {Adam {Smith}: the prophet of free enterprise}, volume = {16}, shorttitle = {Adam {Smith}}, url = { }, abstract = {When Adam Smith died 200 years ago today, the event was greeted in the Times by a supercilious obituary which alleged that he had courted local opinion in a commercial town by converting his chair of moral philosophy at Glasgow into" a professorship of trade and}, number = {1}, urldate = {2017-07-19}, journal = {History of Economics Review}, author = {Winch, Donald}, year = {1991}, pages = {102--106}, file = {[PDF] from - 1991 - Adam Smith the prophet of free enterprise.pdf:application/pdf;Snapshot:files/73/10370196.1991.html:text/html} }

Critics of Free Enterprise

Arnold, N. Scott. 1990. “Economists and Philosophers as Critics of the Free Enterprise System.” The Monist 73 (4): 621–641.

@article{arnold_economists_1990, title = {Economists and {Philosophers} as {Critics} of the {Free} {Enterprise} {System}}, volume = {73}, url = { }, abstract = {A favorite topic in academic political philosophy in the last third of the twentieth century has been the shortcomings of the economic system under which most of us live. Though in recent years there has been some recogni tion of the advantages of the market and the difficulties with alternative economic systems, this has not slowed the steady stream of criticism of this or that aspect of the free enterprise system. The purpose of this essay is to give an account of the geography of various criticisms of this system and to argue that}, number = {4}, urldate = {2017-07-19}, journal = {The Monist}, author = {Arnold, N. Scott}, year = {1990}, pages = {621--641} }

Arthur C. Brooks

Brooks, Arthur C. 2011. The Battle: How the Fight between Free Enterprise and Big Government Will Shape America’s Future. Basic books.

@book{brooks_battle:_2011, title = {The battle: {How} the fight between free enterprise and big government will shape {America}'s future}, shorttitle = {The battle}, url = { }, abstract = {America faces a new culture war. It is not a war about guns, abortions, or gays—rather it is a war against the creeping changes to our entrepreneurial culture, the true bedrock of who we are as a people. The new culture war is a battle between free enterprise and social democracy. Many Americans have forgotten the evils of socialism and the predations of the American Great Society's welfare state programs. But, as American Enterprise Institute's president Arthur C. Brooks reveals in The Battle, the forces for social democracy have}, urldate = {2017-07-20}, publisher = {Basic books}, author = {Brooks, Arthur C.}, year = {2011}, file = {Snapshot:files/92/books.html:text/html} }

———. 2012. The Road to Freedom: How to Win the Fight for Free Enterprise. Basic Books

@book{brooks_road_2012, title = {The road to freedom: how to win the fight for free enterprise}, shorttitle = {The road to freedom}, url = { }, urldate = {2017-07-19}, publisher = {Basic Books (AZ)}, author = {Brooks, Arthur C.}, year = {2012}, file = {Snapshot:files/70/books.html:text/html} }

Powell Memorandum

Powell Jr, Lewis F. 1971. “Attack on American Free Enterprise System.”

@article{powell_jr_attack_1971, title = {Attack on {American} free enterprise system}, url = { }, abstract = {Abstract Memorandum from future Supreme Court Justice Lewis F. Powell to the US Chamber of Commerce. This document came to be widely known as the Powell Memorandum. It is seen by many as an influential document in various conservative and pro- corporate political movements.}, urldate = {2017-07-20}, author = {Powell Jr, Lewis F.}, year = {1971}, file = {[PDF] from Jr - 1971 - Attack on American free enterprise system.pdf:application/pdf;Snapshot:files/95/79.html:text/html} }

Evolutionary Psychology

Richerson, Peter, and Rob Boyd. 2008. “The Evolution of Free Enterprise Values.”

@article{richerson_evolution_2008, title = {The evolution of free enterprise values}, url = { }, abstract = {Free enterprise economic systems evolved in the modern period as culturally transmitted values related to honesty, hard work, and education achievement emerged. One evolutionary puzzle is why most economies for the past 5,000 years have had a limited role for free enterprise given the spectacular success of modern free economies. Another is why if humans became biologically modern 50,000 years ago did it take until 11,000 years ago for agriculture, the economic foundation of states, to begin. Why didn't free enterprise}, urldate = {2017-07-25}, author = {Richerson, Peter and Boyd, Rob}, year = {2008}, file = {[PDF] from and Boyd - 2008 - The evolution of free enterprise values.pdf:application/pdf;Snapshot:files/156/papers.html:text/html} }

Evolution of Capitalism

Halal, William E. 1988. “The New Capitalism: Democratic Free Enterprise.” The Futurist 22 (1): 26.

@article{halal_new_1988, title = {The {New} {Capitalism}: {Democratic} {Free} {Enterprise}}, volume = {22}, shorttitle = {The {New} {Capitalism}}, url = {}, abstract = {Abstract In the US, the" old capitalism" of the industrial past is giving way to the" new capitalism" of the information age. The new capitalism necessitates a more balanced type of growth that weighs benefits against costs to improve quality of life for all. To provide more personal services, a client-driven form of marketing is emerging that shifts the emphasis from selling to genuinely serving the customer. New capitalism also is restructuring institutions. Leading-edge firms are developing decentralized forms of control, encouraging smal}, number = {1}, urldate = {2017-07-19}, journal = {The Futurist}, author = {Halal, William E.}, year = {1988}, pages = {26}, file = {Snapshot:files/72/218554271.html:text/html} }

Essays from 1956

Sennholz, Mary. 1956. On Freedom and Free Enterprise: Essays in Honor of Ludwig von Mises. Ludwig von Mises Institute.

@book{sennholz_freedom_1956, title = {On {Freedom} and {Free} {Enterprise}: {Essays} in {Honor} of {Ludwig} von {Mises}}, shorttitle = {On {Freedom} and {Free} {Enterprise}}, url = {}, abstract = {INDIVIDUAL valuation is the keystone of economic theory. For, fundamentally, economics does not deal with things or material objects. Economics analyzes the logical attributes and consequences of the existence of individual valuations." Things" enter into the picture, of course, since there can be no valuation without things to be valued. But the essence and the driving force of human action, and therefore of the human market economy, are the valuations of individuals. Action is the result of choice among alternatives, and choice ...}, urldate = {2017-07-20}, publisher = {Ludwig von Mises Institute}, author = {Sennholz, Mary}, year = {1956}, file = {[HTML] from} }