Books & Chapters
I’ve authored multiple books on capitalism and applied capitalist theory, bringing lessons discerned from comprehensive historical research and analysis to present-day challenges.
In the field of political economy in recent decades an important and valuable emphasis has been placed on “rent seeking,” defined as pressure groups lobbying for (and getting) special favors (bestowed on themselves) and disfavors (imposed on their rivals or enemies). It’s a key theme of “public choice” theorists, who tend to love free markets and constitutionally constrained states.
If central bankers today were required to adopt a gold price rule, their jobs would be easier and their performance—along with that of major economies—would improve considerably. Such a rule would anchor policy in the objective features of history’s most famous and durable money. A gold price rule also could foster an efficient transition to an ideal, feasible, and durable international monetary regime. In these and other respects, it outperforms other rules and no rules at all.
Imagine living in a rights-protecting society where individuals are free to create an abundance of life-serving products and services—where scientific and medical innovations are so common that your life expectancy could easily surpass ages we currently only dream of. Richard M. Salsman advocates the basis of such a society—capitalism—in his latest book, Where Have All the Capitalists Gone? Essays in Moral Political Economy. In this collection of sixty-six essays, Salsman describes and examines the requirements of a truly capitalist, fully free society.