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« Study Habits for Scholars in Economics | Main | Beyond Objectivism and Relativism Redux »

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How would we know capitalism has been destroyed?

Actually (and perhaps somewhat besides the point) the medical oath about "doing no harm" is not an expression of the economic principle. The economic principle says that harm is okay if it is exceeded by benefits and if it is the minumum harm that will attain those benefits. Doctors harm us all the time. Now, of course, I do not believe that we should destroy what is left of capitalism to "cure" the recession. I just don't like the expression in the medical oath.

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