---
product_id: 8783463
title: "The Politically Incorrect Guide to Capitalism"
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---

# The Politically Incorrect Guide to Capitalism

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## Description

Most commonly accepted economic "facts" are wrong Here's the unvarnished, politically incorrect truth. The liberal media and propagandists masquerading as educators have filled the world--and deformed public policy--with politically correct errors about capitalism and economics in general. In The Politically Incorrect Guide(tm) to Capitalism, myth-busting professor Robert P. Murphy, a scholar and frequent speaker at the Ludwig von Mises Institute, cuts through all their nonsense, shattering liberal myths and fashionable socialist cliches to set the record straight. Murphy starts with a basic explanation of what capitalism really is, and then dives fearlessly into hot topics like: * Outsourcing (why it's good for Americans) and zoning restrictions (why they're not) * Why central planning has never worked and never will * How prices operate in a free market (and why socialist schemes like rent control always backfire) * How labor unions actually hurt workers more than they help them * Why increasing the minimum wage is always a bad idea * Why the free market is the best guard against racism * How capitalism will save the environment--and why Communist countries were the most polluted on earth * Raising taxes: why it is never "responsible" * Why no genuine advocate for the downtrodden could endorse the dehumanizing Welfare State * The single biggest myth underlying the public's support for government regulation of business * Antitrust suits: usually filed by firms that lose in free competition * How tariffs and other restrictions "protect" privileged workers but make other Americans poorer * The IMF and World Bank: why they don't help poor countries * Plus: Are you a capitalist pig? Take the quiz and find out! Breezy, witty, but always clear, precise, and elegantly reasoned, The Politically Incorrect Guide(tm) to Capitalism is a solid and entertaining guide to free market economics. With his twelve-step plan for understanding the free market, Murphy shows why conservatives should resist attempts to socialize America and fight spiritedly for the free market.

Review: A Shotgun Blast of Gold Nuggets... - I debated with myself whether to give 4 or 5 stars to this book. Ultimately, I decided on 5 stars - as the content is tremendous - and I decided it was unreasonable to expect this book to be everything to everyone. The book is a wealth of information and covers a wide range of subjects - with a good portion of those filling the "politically incorrect" category. Mr. Murphy - and I have read several of his articles outside this book - has the gift of providing some of the clearest and pointed critiques of `politically correct' thinking concerning capitalism. In reading the book, I didn't find all of his arguments equally convincing - but when they are good - they are INCREDIBLY good. Entertaining too - in talking about a particular Amtrak line, he offers "Your tax dollars would have been saved if the line had been scrapped and Amtrak's customers had been given plane tickets instead." Point and match to Mr. Murphy. The book does not dwell needlessly on each issue - but gets right to the point - and there are several in each chapter. Hence, my reference to a shotgun blast in the title. The points come and go quickly, and if you don't have some background in some of the items, it is possible to simply read the conclusion without fully appreciating the argument. This is not a quibble with the text - which is extremely readable. If you are in possession of matrix-like "bullet speed" capabilities, be sure to use them as needed to slow down and appreciate some of the elegantly crafted explanations in the book (I've read many books three times the size with nowhere near the amount of information contained here.) Would I recommend this book to an absolute economic newcomer? No. If you have never heard of the phrase "GDP" then I don't think this is the place to start. This was my 4/5 star debate. I finally figured out I was getting hung up on the cartoon cover (sad - isn't it?) But, if you have watched the business channel or read the business section, you will easily understand and enjoy this book. And the upper limit? I'm the wrong one to ask. But after reading the book, I'd pay money to see Mr. Murphy debate just about anyone.
Review: A fine analysis and defense of capitalism - Dr. Murphy valiantly crushes prevalent anti-capitalist myths, misunderstandings, and lies in this book. He also explains and defends capitalism, showing how-among other things-capitalism actually defeats things such as slavery, pollution, and racism, even though common accusations against the unregulated free-market are that it allows-even engenders-such things. Dr. Murphy also shows how when the government tries to take the place of private individuals and businesses, it operates without market incentives, is free from the punishment that bad economic choices incur on businessmen in the free market, and often fails miserably. There are also some valuable insights into major historical economic crises and issues, such as an analysis of the Great Depression and the New Deal that shows the absurdity of some of the views the Hoover and Roosevelt administrations had on economics. This is a great book that I would recommend to anyone interested in learning about economics and the free market.

## Technical Specifications

| Specification | Value |
|---------------|-------|
| Best Sellers Rank | #1,312,480 in Books ( See Top 100 in Books ) #283 in Free Enterprise & Capitalism #562 in Political Economy #981 in Economic Conditions (Books) |
| Customer Reviews | 4.5 out of 5 stars 226 Reviews |

## Images

![The Politically Incorrect Guide to Capitalism - Image 1](https://m.media-amazon.com/images/I/81lPxFNvLZL.jpg)

## Customer Reviews

### ⭐⭐⭐⭐⭐ A Shotgun Blast of Gold Nuggets...
*by H***R on April 10, 2007*

I debated with myself whether to give 4 or 5 stars to this book. Ultimately, I decided on 5 stars - as the content is tremendous - and I decided it was unreasonable to expect this book to be everything to everyone. The book is a wealth of information and covers a wide range of subjects - with a good portion of those filling the "politically incorrect" category. Mr. Murphy - and I have read several of his articles outside this book - has the gift of providing some of the clearest and pointed critiques of `politically correct' thinking concerning capitalism. In reading the book, I didn't find all of his arguments equally convincing - but when they are good - they are INCREDIBLY good. Entertaining too - in talking about a particular Amtrak line, he offers "Your tax dollars would have been saved if the line had been scrapped and Amtrak's customers had been given plane tickets instead." Point and match to Mr. Murphy. The book does not dwell needlessly on each issue - but gets right to the point - and there are several in each chapter. Hence, my reference to a shotgun blast in the title. The points come and go quickly, and if you don't have some background in some of the items, it is possible to simply read the conclusion without fully appreciating the argument. This is not a quibble with the text - which is extremely readable. If you are in possession of matrix-like "bullet speed" capabilities, be sure to use them as needed to slow down and appreciate some of the elegantly crafted explanations in the book (I've read many books three times the size with nowhere near the amount of information contained here.) Would I recommend this book to an absolute economic newcomer? No. If you have never heard of the phrase "GDP" then I don't think this is the place to start. This was my 4/5 star debate. I finally figured out I was getting hung up on the cartoon cover (sad - isn't it?) But, if you have watched the business channel or read the business section, you will easily understand and enjoy this book. And the upper limit? I'm the wrong one to ask. But after reading the book, I'd pay money to see Mr. Murphy debate just about anyone.

### ⭐⭐⭐⭐⭐ A fine analysis and defense of capitalism
*by S***T on August 24, 2011*

Dr. Murphy valiantly crushes prevalent anti-capitalist myths, misunderstandings, and lies in this book. He also explains and defends capitalism, showing how-among other things-capitalism actually defeats things such as slavery, pollution, and racism, even though common accusations against the unregulated free-market are that it allows-even engenders-such things. Dr. Murphy also shows how when the government tries to take the place of private individuals and businesses, it operates without market incentives, is free from the punishment that bad economic choices incur on businessmen in the free market, and often fails miserably. There are also some valuable insights into major historical economic crises and issues, such as an analysis of the Great Depression and the New Deal that shows the absurdity of some of the views the Hoover and Roosevelt administrations had on economics. This is a great book that I would recommend to anyone interested in learning about economics and the free market.

### ⭐⭐⭐⭐ 5 stars for beginners; 4 stars for libertarian philosophes
*by J***N on September 26, 2007*

This book is stridently, unabashedly, and wholeheartedly 100% pro-capitalist in the purest, most positive sense of the word. Unlike other Politically Incorrect Guides, the orientation of this book is not conservative, but rather libertarian. There is some pandering to the Conservative Book Club audience, with lots of digs at "liberals," and deafening silence on the issues of immigration and war (though a few pro-immigration, anti-war hints are dropped if you're careful to pay attention). All in all, this book would be great for liberals and conservatives alike who are trending libertarian and/or who know very little about economics or capitalist philosophy. For longtime libertarians, however, this gets only 4 stars as a wonderful affirmation of our already held beliefs. One thing this book did do for me, however, is finally turn me against my last bastion of big-government activism, anti-discrimination laws -- which even conservatives have come to embrace. Libertarianism is the only anti-racist creed, and yet it recognizes that all the government can morally do is to not practice racism -- it cannot enforce laws against its practice on a private level.

## Frequently Bought Together

- The Politically Incorrect Guide to Capitalism
- The Politically Incorrect Guide to Economics (The Politically Incorrect Guides)

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*Last updated: 2026-06-19*