Three in One
Essays on Democratic Capitalism, 1976-2000
Throughout his many writings, Michael Novak, one of the leading Catholic social theorists of our times, has urged us to adopt a tripartite system of democratic capitalism including a market economy, a democratic polity, and a moral-cultural system that would nourish the values and virtues on which free societies depend. Three in One introduces the reader to Novak's portrait of democratic capitalism.
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Mr. Novak deserves credit for alerting us to what I call 'America's Other Democracy' a giant endless plebiscite in which consumers vote not every other year but daily, frequently, directly, scrupulously, a democracy disciplining producers everywhere to toe the mark, a democracy meriting the observation of Milton Friedman bearing on the state that nobody spends other people's money as carefully as he spends his own. Ludwig Mises called the process 'consumer sovereignty.' Michael Novak, a man who makes you think, calls it, simply, 'democratic capitalism.'--William H. Peterson, Washington Times "The Washington Times "