---
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: The correct guide - The book is easy to read and sway every important topic at issue. It is also well punctuated by numerous recommendations of books you can read if you want to enhance your knowledge on some theme. The discussion technic that Murphy uses adds some transparency to the book because he doesn't disqualify the opinions of the capitalism's main critics. On the contrary, he puts them just in front of you, offering the reader the chance of approving or not. In this sense I think that what he does is to illustrate upon a fair basis rather than rightly dismiss what others say. At the end of the book you have all the references required to follow up the learning on this both wonderful but also misunderstood topic. There's more to capitalism out there than we can see with our eyes. Highly recommended.

## Technical Specifications

| Specification | Value |
|---------------|-------|
| Best Sellers Rank | #711,778 in Books ( See Top 100 in Books ) #281 in Free Enterprise & Capitalism #604 in Political Economy #944 in Economic Conditions (Books) |
| Customer Reviews | 4.5 out of 5 stars 224 Reviews |

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## 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.

### ⭐⭐⭐⭐⭐ The correct guide
*by O***E on December 11, 2018*

The book is easy to read and sway every important topic at issue. It is also well punctuated by numerous recommendations of books you can read if you want to enhance your knowledge on some theme. The discussion technic that Murphy uses adds some transparency to the book because he doesn't disqualify the opinions of the capitalism's main critics. On the contrary, he puts them just in front of you, offering the reader the chance of approving or not. In this sense I think that what he does is to illustrate upon a fair basis rather than rightly dismiss what others say. At the end of the book you have all the references required to follow up the learning on this both wonderful but also misunderstood topic. There's more to capitalism out there than we can see with our eyes. Highly recommended.

### ⭐⭐⭐⭐ A Quick Overview of the Economic Aspects of Libertarianism
*by Z***K on July 4, 2007*

Regnery Publishing bills its "Politically Incorrect Guides" (or PIGs) as the place to find "politically correct myths busted and an abundance of cold, hard facts." Robert P. Murphy certainly charges head-first against a lot of politically correct myths in "The PIG to Capitalism." He also provides many cold, hard facts, along with many arguably correct theories that deserve to be more widely known. As a myth-buster, Murphy does not try to lead the reader gently toward a better-informed point of view. Instead, he starts throwing punches from page one. Windfall-profit taxes, pro-union laws, affirmative action, workplace-safety and antipollution regulations, Social Security -- these are among the sacred projects of left-liberalism that Murphy attacks, by explaining how free-market capitalism would do a better job of accomplishing what too many Americans think can be done only through government intervention. If I were writing this book, my emphases would be different -- I'd devote more space to how prices (including wages) are emergent phenomena and to the concepts of economic efficiency and non-zero-sum interaction, and I'd spend less time (if any) on the history of slavery or explaining the difference between the monetarist and Austrian versions of what caused the Great Depression. But I agree with 95% of what Murphy says here. If you have the time to take a deeper look at some of the issues Murphy touches on here, I highly recommend Thomas Sowell's Basic Economics: A Common Sense Guide to the Economy and John Steele Gordon's Empire of Wealth: The Epic History of American Economic Power (P.S.) . Murphy also provides suggestions for further reading throughout the book, many of which were new to me. If your time is limited and you want to get a concentrated dose of what left-liberals deride as "free-market fundamentalism" (but what I consider plain good sense), "The PIG to Capitalism" is a great place to start.

## 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: 2026-09-26*