"Rarely in the history of American democracy has there been such uncertainty about its viability. The same applies to American capitalism. It too is under scrutiny as it has not been since at least the Great Depression, almost a hundred years ago. There is of course a connection between the two. Failures of capitalism create uncertainties in democracies. And deficiencies in democracies raise concerns over capitalism. In the United States democracy and capitalism have been in tandem since the beginning ofthe Republic. In fact, the ideology undergirding both is essentially the same, the one a reflection of, and companion to, the other. Democracy celebrates the rights of individuals, including the right to be relatively free, unfettered politically. Capitalism celebrates the rights of individuals, including the right to be relatively free, unfettered economically. America's political creed embodies and embraces ideals such as freedom, equality, and independence. America's economic creed embodies and embraces ideals such as liberty and individuality - essentially the right of any single individual to reap and then to keep what he or she has sown. Not for nothing was Nobel-prize winning economist Milton Friedman's classic book - since 1962 it has sold over ahalf million copies - titled, Capitalism and Freedom. Not for nothing did he extol not only the virtues of both, but the interdependence of both. Impossible to have capitalism without freedom, Friedman argued. And, similarly, it is impossible to have freedom without capitalism. Economic and political freedom were, he claimed, irrevocably entwined, the one dependent on and sustained by the other"-- Provided by publisher.
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