That Doesn’t Work Anymore

Chapter 18 Aristotle, Infrastructure, and Capital

Aristotle had some very non-capitalistic views on money and wealth; however, he was also a big believer in private property and the market system and won praise from Austrian economist and libertarian leaning writer Murray Rothbard. In Mr. Rothbard’s essay61 on Aristotle he points out that the philosopher understood the importance of having market systems and believed they are extremely important for the proper functioning of society as they allow people to get what they want and need. Aristotle also strongly favored private property as a critical tenant in running a society’s legal and economic system and he recognized that laws and institutions are critical to the functioning of markets and ...