Abstract

ABSTRACT Tibor R. Machan's ‘The virtue of freedom in capitalism’, which recently appeared in this journal, seeks to defend the currently fashionable view that capitalism and freedom are closely linked. I concentrate upon three aspects of his argument. First, Machan holds that capitalism is the only system capable of facilitating the exercise of moral responsibility effectively. Against this, I show that his argument rests upon a systematic confusion between two distinct theses. Secondly, I deal with his attempt to rest an argument upon the allegedly ‘uncoercive’ nature of market exchanges. Thirdly, I show that his analysis of the concept of freedom, which closely follows Hayek, logically cannot be deployed in support of the free market. Machan has a tendency to appeal to ‘tradition’, and so, in conclusion, I briefly consider his relation to the ‘analytic’ movement in philosophy.