Never forget the undeniable moral case for capitalism Economics Critics of capitalism describe it as immoral. In pointing to subjective (and sometimes objective) examples of unethical or harmful behaviour they conclude that capitalism is the enabling or even necessary force. Others, in so far as they stop to think about it, may conclude that the free-market system is amoral; that it is utterly indifferent [...]
Labour is doomed to irrelevance Opinion Social democratic parties across Western Europe have failed after abandoning support for capitalism and pursuing woke agendas. The same will happen to Labour, says Paul Ormerod So Keir Starmer wants a reset with the European Union. In typical Starmer fashion, it is as clear as mud as to what this will actually involve. But there [...]
Why democracy needs the rich Opinion A new book argues that, in a democracy, an intellectual class that holds homogeneous, anti-capitalist views demands a counterweight of the wealthy contributing to politics, says Rainer Zitelmann In 2021 and 2022, a representative survey on attitudes toward the market economy and capitalism was conducted in 34 countries. Among other things, respondents were presented with [...]
Space is the new frontier in economics April 14, 2026 Property rights underpin capitalism here on Earth, they must do the same in space – a new book by CityAM columnist Rainer Zitelmann argues A little over ten years ago, when smartphones were still sufficiently new to mention, I attended a talk by an economist who argued that it was a mistake to see [...]
Ukraine is turning West in its economic thinking April 1, 2026 Ukraine and Russia once shared a Soviet system but are now moving in opposite directions. One is becoming more aligned with the economic values of Western democracies; the other remains rooted in a tradition of state control, says Rainer Zitelmann A quiet but consequential shift is underway in Eastern Europe. While geopolitical attention has focused [...]
International Women’s Day: Free markets are not the enemy of feminism March 8, 2026 History tells that if there’s one thing women should fear, it’s not capitalism, it’s the collective, says Victoria Bateman Leftist global histories tell the same story when it comes to women. They present us with a happy world in which women were revered and rewarded by their communities until the advent of capitalism ended this [...]
On this day in 1637: The tulip bubble bursts February 3, 2026 Tulip fever is still remembered as a parable about the evils of capitalism and mass hysteria, but what really happened? Asks Eliot Wilson It is one of those half-remembered, quarter-understood facts to illustrate the ineffable foolishness of human nature. In the first half of the 17th century, the zenith of the Dutch Golden Age, the [...]
Are the rich getting richer because the poor are getting poorer? December 9, 2025 Adherents of the zero-sum belief that the rich are only rich because they have taken something from the poor cannot explain why the number of poor people fell massively while the number of rich people rose massively, says Rainer Zitelmann “The rich are getting richer and the poor are getting poorer” – few statements have [...]
Zohran Mamdani’s victory must be a wake-up call to freedom’s defenders November 5, 2025 The election of Zohran Mamdani signal the start of the anti-capitalist backlash. It must not be allowed to succeed, says Rainer Zitelmann The election of Zohran Mamdani as mayor of New York City sends a powerful message worldwide. In the very heart of global capitalism, a socialist has won. Frank Sinatra once sang in his [...]
On this day: Margaret Thatcher’s 100th birthday October 13, 2025 Britain owes everything to the woman who saved it from socialism, says Rainer Zitelmann Margaret Thatcher would have been 100 years old today. She served as Prime Minister of the United Kingdom for nearly 12 years, making her the longest-serving Prime Minister of the 20th century. No other political leader has ever implemented tax cuts, [...]