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1、WHYCAPITALISM?ThispageintentionallyleftblankWHYCAPITALISM?ALLANH.MELTZER1OxfordUniversityPress,Inc.,publishesworksthatfurtherOxfordUniversity’sobjectiveofexcellenceinresearch,scholarship,andeducation.OxfordNewYorkAucklandCapeTownDaresSalaamHongKongKarachiKualaLumpurMa
2、dridMelbourneMexicoCityNairobiNewDelhiShanghaiTaipeiTorontoWithofficesinArgentinaAustriaBrazilChileCzechRepublicFranceGreeceGuatemalaHungaryItalyJapanPolandPortugalSingaporeSouthKoreaSwitzerlandThailandTurkeyUkraineVietnamCopyright©2012byAllanH.MeltzerPublishedbyOxfor
3、dUniversityPress,Inc.198MadisonAvenue,NewYork,NewYork10016www.oup.comOxfordisaregisteredtrademarkofOxfordUniversityPressAllrightsreserved.Nopartofthispublicationmaybereproduced,storedinaretrievalsystem,ortransmitted,inanyformorbyanymeans,electronic,mechanical,photocop
4、ying,recording,orotherwise,withoutthepriorpermissionofOxfordUniversityPress.LibraryofCongressCataloging-in-PublicationDataMeltzer,AllanH.Whycapitalism?/AllanH.Meltzer.p.cm.Includesbibliographicalreferencesandindex.ISBN978-0-19-985957-3(cloth:alk.paper)1.Capitalism.I.T
5、itle.HB501.M452012330.12′2—dc232011020507987654321PrintedintheUnitedStatesofAmericaonacid-freepaperIdedicatethisbooktomygrandchildrenhopingthattheywillcometosharemypassionforliberty.ThispageintentionallyleftblankCONTENTSPrefaceix1WhyCapitalism?32RegulationandtheWelfar
6、eState313WhyBigDeficitsNow?634SourcesofPostwarProgress855ForeignAid1096WhyInflationWillReturn121Index145ThispageintentionallyleftblankPREFACEItwaswithamixtureofsurpriseanddisbeliefinthefallof2008thatIreadjournalists’commentariesontheendofcapi-talism.Manywelcomedtheexp
7、ansionofregulationandgovernmentinterventionandtheweakeningofmarketcom-petitionasaregulator.Severaljournalistsaskedmetocom-mentontheallegedendofcapitalism.Didtheynotseethatcapitalismhadbecomethedominantformofeconomicorganizationthathadspreadinthepast50yearsfromafewcoun
8、triesinNorthAmericaandWesternEuropetoAsia,LatinAmerica,andnowtoAfrica?Ioftenwonderiftheyarepleasedbytheincreaseinregulationt
