Today’s podcast is titled “Is Capitalism the Cause or the Solution to the Financial Crisis?” Recorded in 2009, Dennis McCuistion, former Clinical Professor of Corporate Governance and Executive Director of the Institute for Excellence in Corporate Governance at the University of Texas at Dallas, Steve Forbes, Editor-in-Chief and CEO of Forbes Magazine, and Tom Woods, author and Senior Fellow with the Mises Institute examine whether capitalism was the cause of the 2008 financial crisis or if it could be the solution to the economic problems. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media …
What’s the Difference Between Capitalism and Mercantilism?
In our previous discussions, we’ve explored what capitalism is (private ownership of capital with the freedom to use it as you choose), where it came from (organic human exchange), how it’s regulated (both by government and market forces), and how it affects issues like inequality and poverty. Today, let’s look at something different but related: mercantilism. Mercantilism is a term you may have heard before, but it’s not usually explained in-depth in most modern social studies classes. That’s because it fell out of favor among governments centuries ago—and for good reason. While it might have benefited certain groups of people, …
Does Capitalism Actually Reduce Poverty?
In our last post, we explored the distinction between economic inequality (differences in opportunity) and economic inequity (differences in outcomes). We also touched on how trying to force equal outcomes can actually increase inequality of opportunity. But critics might reasonably ask, “If capitalism is so great, why is there still so much poverty in the world?” It’s a fair question that deserves a thoughtful answer. Let’s start with some perspective. For most of human history, extreme poverty was the norm, not the exception. As recently as 1820, approximately 90% of the global population lived in extreme poverty. By 1990, that …
Episode 237 – Bill Moyers: The Man and His Myths (Podcast)
Today’s podcast is titled “Bill Moyers: The Man and His Myths.” Recorded in 1997, Dennis McCuistion, former Clinical Professor of Corporate Governance and Executive Director of the Institute for Excellence in Corporate Governance at the University of Texas at Dallas, and renowned PBS journalist and former White House Press Secretary Bill Moyers discuss Mr. Moyers’ life, his time in the Kennedy and Johnson administrations, and his journalism career. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.
Magatte Wade on Cultural Branding: The Missing Piece in Global Business
As an entrepreneur, you know that building a successful business requires much more than just a great product. But have you considered how your brand might serve as a cultural ambassador? Senegalese entrepreneur Magatte Wade has built her career on this powerful insight, and her approach offers a fresh perspective for business owners looking to expand their impact. Wade’s journey began with a simple observation: while young people across developing nations consistently name America as their dream destination, it’s not because of economic opportunity—at least, it’s not the only reason. It’s also America’s powerful cultural influence through its brands. From …
Episode 236 – Avoiding the Coming Generational Storm (Podcast)
Today’s podcast is titled “Avoiding the Coming Generational Storm.” Recorded in 2006, Dennis McCuistion, former Clinical Professor of Corporate Governance and Executive Director of the Institute for Excellence in Corporate Governance at the University of Texas at Dallas, continues his conversation with syndicated financial columnist Scott Burns, co-author of the book The Coming Generational Storm, and Peter G. Peterson, co-founder of the Blackstone Group, about America’s fiscal challenges, particularly related to entitlement programs and government debt. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.
Does Capitalism Fuel Economic Inequality?
It’s common to want to divide the world into the “haves” and the “have-nots.” After all, it’s obvious that some people possess and earn more money than others. Some people live lives of luxurious indulgence while others have to choose between paying for rent or paying for medicine. It’s perfectly reasonable—and very human—to look at that dichotomy and wonder about the disparity. Is it something systemic that’s leading to these widely differing outcomes? If capitalism is supposed to reward hard work, why does a cushy desk job pay more than manual labor? Is capitalism itself to blame for what is …
Episode 235 – “The Coming Generational Storm” (Podcast)
Today’s podcast is titled “The Coming Generational Storm.” Recorded in 2006, Dennis McCuistion, former Clinical Professor of Corporate Governance and Executive Director of the Institute for Excellence in Corporate Governance at the University of Texas at Dallas, syndicated financial columnist Scott Burns, co-author of the book The Coming Generational Storm, and Peter G. Peterson, co-founder of the Blackstone Group, discuss America’s looming financial crisis due to unfunded liabilities in Social Security and Medicare. Listen now, and don’t forget to subscribe to get updates each week for the Free To Choose Media Podcast.
Is There a Better Way to Regulate Markets?
In our last post, we explored how many frustrating market situations aren’t examples of capitalism failing, but rather of capitalism being prevented from working through cronyism and regulatory capture. This raises an important question: If excessive government regulation creates problems, does that mean we should have no rules at all? Not quite. The issue isn’t regulation itself. It’s who does the regulating and how it happens. Consider healthcare, which perfectly illustrates our point about heavily regulated industries. It’s plagued by sky-high prices, limited options, and often poor patient satisfaction. It’s also one of America’s most heavily regulated sectors. At the …
Tyler Perry’s Rule: Never Change Your Market
From homelessness to a multi-billion dollar entertainment empire, Tyler Perry’s entrepreneurial journey is nothing short of extraordinary. In a revealing conversation about his path to success, which you can watch below, Perry shares insights that every business owner should hear about understanding your market and staying true to your vision. Perhaps the most striking aspect of Perry’s success is his unwavering commitment to his core audience. “I never succumb to [pressure to change who you are to attract someone or something],” he explains. “I always believe in serving my audience, super-serving them.” This dedication to understanding and meeting the needs …