{"id":13679,"date":"2015-10-22T06:09:08","date_gmt":"2015-10-22T11:09:08","guid":{"rendered":"http:\/\/olduvai.ca\/?p=13679"},"modified":"2015-10-22T06:09:08","modified_gmt":"2015-10-22T11:09:08","slug":"the-civilisation-of-capitalism","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=13679","title":{"rendered":"The Civilisation of Capitalism"},"content":{"rendered":"

The Civilisation of Capitalism<\/a><\/h3>\n

This piece was written for The Cobden Centre by Vishal Wilde. Vishal Wilde is a finalist studying for a BSc (Hons) in Philosophy, Politics & Economics (Economics major) at the University of\u00a0Warwick<\/span>. He wishes to spend his life fighting for and defending freedom. He is a Freelance Journalist (writing, most recently, for the Market Mogul), he writes Poetry, Science-Fiction and Fantasy and conducts independent academic research in Economics, Political Science and Philosophy. He is a Research Consultant for Fantain Sports, Pvt Ltd. (a tech startup based in India). He has previously written research articles and blogged for the\u00a0Adam Smith Institute.<\/p>\n

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\u2018The Civilisation of Capitalism\u2019: Schumpeter on Rationality and its relevance to the ideal of a free society
\n<\/u><\/strong><\/p>\n

In\u00a0Joseph Schumpeter\u2019s (1942) Capitalism, Socialism & Democracy<\/a>\u00a0, Chapter 11 is entitled \u2018the Civilisation of Capitalism\u2019. There, he argues that the culture fostered by Capitalism has been responsible for the \u2018rationalisation\u2019 of society, as we know it. Rather than quoting Schumpeter word-for-word, I\u2019d encourage people to read that short chapter. We can derive inspiration from Schumpeter\u2019s thoughts in making the case for free markets and a free society.<\/p>\n

Intuitively, one would expect the individual living in a free society to be more intelligent and rational than his counterpart in a hypothetical, centrally planned Utopia (like Plato\u2019s Republic). In a predominantly centrally planned economy, where there is deprivation of civil liberties, choices have already been made on our behalf whereas in a free society, people have more choices. The typical individual in the former will, most likely, be more na\u00efve than his counterpart in a freer society and in the latter more rational. The freer society is, the greater the sphere in which people can develop the appropriate mental faculties for optimising outcomes.<\/p>\n

– See more at: http:\/\/www.cobdencentre.org\/2015\/10\/the-civilisation-of-capitalism\/#sthash.DwTGy8Vx.dpuf<\/p>\n","protected":false},"excerpt":{"rendered":"

The Civilisation of Capitalism This piece was written for The Cobden Centre by Vishal Wilde. Vishal Wilde is a finalist studying for a BSc (Hons) in Philosophy, Politics & Economics (Economics major) at the University of\u00a0Warwick. He wishes to spend his life fighting for and defending freedom. He is a Freelance Journalist (writing, most recently, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[111,125,3965,7380,338,8973,10108,10107,10106],"class_list":["post-13679","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-capitalism","tag-central-planning","tag-civil-liberties","tag-cobden-centre","tag-freedom","tag-individual","tag-rationalisation","tag-schumpeter","tag-vishal-wilde"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13679"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13679\/revisions"}],"predecessor-version":[{"id":13680,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13679\/revisions\/13680"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}