As a pupil, I study capitalism closely, rigorously, and comprehensively, in its many dimensions. As a professor, I publish, teach, lecture and debate on all aspects of political economy, with a focus on capitalism. As a practitioner, I analyze, model, and forecast business cycles and capital markets, to guide investment professionals.
I am a capitalist not only as an investor of capital but also as a proponent of capitalism. I consider capitalism to be the most rational, moral, liberal, practical, and sustainable social system. It is based on individual rights, including private property rights, and is, demonstrably, the system of liberty – whether civil, political, or economic. Capitalism is sustainable because it’s practical, practical because it’s moral, and moral because it’s rational. But capitalism cannot survive without solid, positive arguments in its favor. Capitalism is surely controversial, because it counts on and rewards rational egoism, but this is also the ethic that makes it go, makes it thrive, and makes it survive.