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In many minds, "capitalism" has come to be a bad word, nor does "free enterprise" sound much better. I remember seeing posters in Russia in the early nineteen-thirties depicting capitalists as Frankenstein monsters, as men with yellow-green faces, crocodile teeth,

Download the slides from this lecture at Mises.org/MU21_PPT_06. Recorded at the Mises Institute in Auburn, Alabama, on 19 July 2021.