The Spirit of Democratic Capitalism

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Simon & Schuster, 1982 - Business & Economics - 433 pages
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In this groundbreaking book, Michael Novak offers one of the most significant and refreshing appraisals of capitalism in recent times. A leading neo-conservative thinker, Novak challenges the almost universal assumption that capitalism, because of the prosperity it brings, is without the moral and spiritual underpinnings of socialism. Novak argues convincingly that, in fact, by virtue of its distinctive spirit, democratic capitalism is not only pragmatically superior but morally more sound than any other system of political economy known to man. That spirit, says Novak, consists of a novel trinity: a political democracy, a market incentive economy, and a liberal, pluralistic culture. Based on respect for individual freedom, it provides a broader vision of human possibility than that offered by any other societal alternative.

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