Free Market Economics

“The moral case for free market economics is, in my view, overwhelming. It has proved to be the best antidote to general poverty ever invented. In the space of a single generation it has lifted over a hundred million people from poverty in India, and almost a billion in China, a transformation unprecedented in history. It produces massive incentives for creativity, our most miraculous gift as members of Homo sapiens. Would Microsoft or Apple or Google – and all the technological innovation they have brought us – have existed outside a market economy? Would artificial intelligence have arisen, with its extraordinary promise of, for example, medical innovation and improved diagnostics? The free market has liberated people in a way that Marxism never could.”

Morality, Chapter 6, p. 96