This chapter shows readers the way things work in a mixed economy that

This chapter shows readers the way things work in a mixed economy that

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: This chapter shows readers the way things work in a mixed economy that's moving toward som. Private property exists nominally, but the state has steadily increasing control over its use and distribution. In such a system, productive businessmen like Hank Rearden and Dan Conway have no rights; they are at the mercy of any inferior competitor with political friends. Only capitalism provides the economic freedom that great producers like Rearden and Conway require. Under a capitalist society, their productive activities would be unrestricted by government bureaucrats and envious competitors. The men who meet at the beginning of this chapter insist that the preservation of the steel industry "as a whole" is vital to the public welfare. Therefore, Boyle's virtually bankrupt company must not be allowed to fail. It must be propped up by stripping Rearden of his ore mines and turning them over to allowed to fail....
View Full Document

This note was uploaded on 11/28/2011 for the course ENG 1320 taught by Professor Bost during the Fall '09 term at Texas State.

Ask a homework question - tutors are online