The most interesting part, as well as the highlight of the piece, is about the disconnectedness of political freedom and capitalism, where the authors indicate that the latter does not promote or guarantee the former. It is stated that “we have seen some capitalistic nations, such as pre-Hitler Germany, descend into totalitarian dictatorship” (Heilbroner & Thurow, 1998, p. 24). In other words, the authors make it evident that political liberty and the preservation of individual rights are not attached to a capitalistic economy. As an example, it is stated that “we have seen other nations, such as Sweden, move towards a kind of social-minded capitalism without impairing democratic liberties” (Heilbroner & Thurow, 1998, p. 24). The provided comparison breaks a common misconception of how free markets contribute to free political systems.
The authors depict a clearer picture of the separateness of these two, where capitalism only works as an efficient economic machine but has little to no impact on the political framework. Therefore, it is important to be aware of the loose connectedness between capitalism and liberty. If a nation is struggling and fighting against totalitarianism, the focus should not be on the economy but on politics.
Reference
Heilbroner, R., & Thurow, L. (1998). Economics explained: Everything you need to know about how the economy works and where it’s going. Touchstone.