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Summary

Participating in the economy is a part of everyday life, yet much of what is commonly accepted as fact is wrong. Keynesian schoolteachers and the liberal media have filled the world with politically correct errors that myth-busting professor Robert Murphy sets straight.

Murphy explains hot topics like outsourcing (why it's good for Americans) and zoning restrictions (why they're not). Just like the other books in the P.I.G. series, The Politically Incorrect Guide to Capitalism pulls no punches. Murphy defends the free market on such issues as safety regulations, racial discrimination, and child-labor laws, in a breezy manner that is anything but textbook-like. The Politically Incorrect Guide to Capitalism sets the record straight on everything you thought you knew about economics.

©2007 Robert P. Murphy (P)2007 Blackstone Audio Inc.

Critic reviews

"An invaluable introduction to free-market economics." (Congressman Ron Paul)

What listeners say about The Politically Incorrect Guide to Capitalism

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  • Overall
    5 out of 5 stars
Profile Image for Micah N.
  • Micah N.
  • 15-04-07

Entertaining and Educational

Without question an anti-"big government", anti-liberal, and pro-capitalist book. The author has no qualms voicing his distain for government controls on economics or shortsighted and politically motivated interference with the free market. Having noted this less than respectful attitude towards Democrats, the book is filled with sound economic education. The author quotes both Adam Smith and Ayn Rand on numerous occasions (which gives a good indication of his stance) and offers a number of excellent scholarly works as reference in the "books you aren't supposed to read" vignettes. Not as well written, or as practically informative as Robert Kiyosaki's "Rich Dad" collection, but unabridged, and 'sound as a pound' in it's economic basis. Highly recommend as basic info, a starting point in economics, and as ammo for political conservatives.

46 people found this helpful

  • Overall
    5 out of 5 stars
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  • John
  • 08-08-08

OUTSTANDING primer to modern economics

Audio: Excellent narration by Perry Richards. Clear, easily understood enunciation. American accent, I presume, FWIW.

Content: Excellent. A thorough primer in the fundamentals of economics as applicable to modern times. As a P.I. Guide it supports the (indisputable, IMO) logic of "free market" economics, supported by numerous quotes from Frederic Bastiat, Adam Smith, Milton Friedman, and even Ayn Rand (Capitalism, The Unknown Ideal and The Virtue of Selfishness), to name a few. And, as a P.I. Guide, it is tongue in cheek and lightly sarcastic at times, but not to its' detriment. It also mentions 2 of my other favorite economic primers, Economics in One Lesson by Henry Hazlitt and Free to Choose by Rose and Milton Friedman, amongst the many books it suggests for additional reference. For a relatively short book (224 pages in paperback) it covers seemingly most of the major topics one should learn about to understand economics. (Surf the 'net for more detailed descriptions of the contents.) I absorbed this nearly 6 hour book in a single day and I'll be listening to it again. I highly recommend it.

16 people found this helpful

  • Overall
    5 out of 5 stars
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  • Jason
  • 10-06-10

Introduction to the Austrian School of Econ

This book is very similar to Henry Hazlitt's Economics in One Lesson. It is an introduction to free market economics and the Austrian School of Economics. It is a great book to learn the basics from.

11 people found this helpful

  • Overall
    5 out of 5 stars
Profile Image for Daniel Squires
  • Daniel Squires
  • 30-12-09

Economics for the lay person

You don't have to be an academic to understand the common sense that Murphy lays out in The Politically Incorrect Guide to Capitalism. This book will help you identify what you've instinctively sensed has been been wrong with our economic policies and what needs to be done to fix them. From this book go on to read Peter Schiff and Thomas Woods, and other authors who explain the Austrian school of economics thinking.

9 people found this helpful

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    5 out of 5 stars
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  • CG in Colo
  • 30-10-09

Excellent and sober

Easy to listen to and really informative. I'm an dedicated capitalist - and I learned something every few minutes.

Very reasoned and solid.

7 people found this helpful

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    1 out of 5 stars
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  • John
  • 14-10-09

Bile

This book, which could have been a useful guide, epitomizes the confrontationalist approach that -- whether from the left or (as in this case) from the right -- characterizes so much of what passes for political insight today. The gems of wisdom and insight that do appear are smothered under an overload of bile.

Don't bother unless your mind is already made up and you simply seek affirmation.

6 people found this helpful

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Profile Image for Rebecca Lomax
  • Rebecca Lomax
  • 10-12-20

Wow. . . This is concerning

I’ll start with something nice. This book was well read. The narrator clearly and concisely spouted off the complete and utter bunk that was written before him.
The content of this book presents a wonderful microcosm of the political/social/economic divides that exist in America today. Authors and speakers such as Dr Murphy here are perpetuating a false narrative based on flippant analogies that do not hold up to logical scrutiny. Lazy consumers of this narrative don’t bother to apply logical scrutiny, and accept this bs as fact. It makes me sad as an American.

This book tries to paint a picture where anything that government or labor unions does is negative. It goes so far as to advocate AGAINST child labor laws, anti-discrimination laws, collective bargaining, and equal pay for women. The book uses wonderfully-insightful examples such as “If it were legal in the US to send your 8yo to work instead of school, you wouldn’t do it anyway. There’s no need for a law.” Also, “You should hire a receptionist based upon a mix of her attractiveness and efficiency.”
Seriously.

The title here is not fitting. This book is not just “Politically Incorrect.” It’s actually “Offensively Incorrect.”

I’d suggest that a reasonable person may wish to read it, as I did, do get a nice layout of every far-right racist talking point that they may encounter in social media political debates this week. The book is full of oft-repeated cliches. Make some notes, prep your responses using actual facts and examples, and hit the web. You’ll see all these same ridiculous points laid out in thousands of comments sections across all platforms. Happy hunting!

5 people found this helpful

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  • Jan
  • 13-03-12

Nothing new under the sun

It is my opinion that if you choose to write a book you should do so because you have something important and new you wish to share with your readers/listeners. This book is a very short introduction to economics. Dr. Murphy does supply some educational examples of economics in action but most of his examples is copied straight from the writings of former important and classical economists. Some of these examples are more than 80 years old and some are even wrong. While Dr. Murphy certainly knows his economic history he falls victim to the Ricardian vice, use of abstract theory with no foundation in real life. Let me give you an example of this: The county picks up garbage at no cost. A business owner would be more carefull with consumption and recycle more if he had to pay a fee to have his garbage collected and therefore a garbage fee would reduce the ammount of garbage collected and as a consequence pollution. In this example Dr. Murphy fails to consider the environmental effect when people begin to dump garbage in nature because they don't want to pay the fee.

"The bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen". Frederic Bastiat.

This book is not really politically incorrect.

5 people found this helpful

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  • Tandgn
  • 09-11-11

Best explanation of Capitalism

If you lean towards a conservative slant in the least this is a great book. If you are liberal this is even better to listen too, really!! If you want to argue about capitalism or learn about it this is the book for you. It is worth every penny.

4 people found this helpful

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  • Anna
  • 17-10-14

Two Thumbs Down

Any additional comments?

Simplistic view touting the benefits of free market and the pernicious attempts of the government to even the playing field. Uses outrageous apples to oranges comparisons. Example: The free market would have corrected slavery without any attempt by the government to intervene. Reasoning? Brazil allowed slavery for much longer than any other country and when it was finally outlawed it was an extremely poor country..... wha????

Typical right wing rhetoric with some fear factor conspiracy thrown in via proclamations throughout of “BOOKS YOU ARE NOT SUPPOSED TO READ!” following works that I assume support his ridiculous theories.

As is the problem with capitalism and the free market – there is absolutely no viewpoint on morals or decency.

Gave me a headache.

3 people found this helpful