The Virtues of Business: A Case for Laissez-Faire Capitalism

Bryan Caplan, an adjunct scholar at the Cato Institute and professor of economics at George Mason University, argues that businesses are not just economic entities but also the backbone of society. In his book Pro-Market AND Pro-Business: Essays on Laissez-Faire, Caplan presents a compelling case for the benefits of laissez-faire capitalism, highlighting the role of businesses in providing solutions to social problems and promoting economic progress. Caplan claims that businesses are often misunderstood and maligned, with critics viewing them as exploitative and greedy. However, he argues that this perception is misplaced, and that businesses are, in fact, heroes who solve problems and drive progress.

Key Takeaways:

• Caplan argues that businesses are not just economic entities but also the backbone of society, providing solutions to social problems and promoting economic progress.
• He claims that businesses are often misunderstood and maligned, with critics viewing them as exploitative and greedy, but argues that this perception is misplaced.
• Caplan believes that businesses are heroes who solve problems and drive progress, and that they are often underestimated and undervalued.
• He argues that businesses provide gentle but much-needed leadership, recruiting workers and organizing them to raise their productivity and put products in the hands of customers worldwide.
• Caplan notes that businesses assemble teams of volunteers to meet the needs of willing consumers, and that they succeed wildly, but despite their benefits, businesses are often scapegoated for societal problems.
• He argues that businesses should be viewed as partners in the free market system, rather than as adversaries, and that they deserve respect and admiration.
• Caplan believes that the "pro-market, not pro-business" slogan is a misguided attitude that views businesspeople as amoral and greedy, and that this perception is far from the truth.
• He claims that businesses are, in essence, "heroic" because they solve problems and drive progress, and that they deserve our admiration, gratitude, and sympathy.
• Caplan also discusses the importance of understanding Bastiat's ideas, particularly his essay "What Is Seen and What Is Not Seen," which exposes the flaws in inane arguments for populist policies, such as the minimum wage and Social Security.

Statistics:

• According to Caplan, businesses produce and deliver virtually all of the wonderful, affordable products that we enjoy.
• He notes that virtually all of us are virtually useless and require leadership to produce and deliver products, but businesses provide this leadership and succeed wildly.
• Caplan claims that businesses assemble teams of volunteers to meet the needs of willing consumers and succeed in raising productivity and delivering products worldwide.
• He argues that while businesses receive some government favors, they also contribute to the economy and society through their innovations and entrepreneurial spirit.

Sources:

• Caplan, B. (2018, August 2). Who Loves Bastiat and Who Loves Him Not. Retrieved from
• Caplan, B. (2012, August 15). To buy a copy of Pro-Market AND Pro-Business: Essays on Laissez-Faire, click here. Retrieved from
• Caplan, B. (n.d.). Pro-Market AND Pro-Business: Essays on Laissez-Faire. Retrieved from