# Capitalism and its Critics **URL:** **By** Michael C. Munger, Trevor Burrus, Aaron Ross Powell **Published:** September 4, 2020 --- Michael Munger joins the show to talk about some common misconceptions of capitalism. ## Shownotes: Michael Munger, explains the benefits, and in fact the necessity, of capitalism in organizing human cooperation at scale, and urges the consideration of some problems inherent in capitalism. Munger claims every flaw in markets is worse under socialism. Unless you are willing to advocate monarchism, or actual communist dictatorship, markets and democracy are the only two mechanisms we have for organizing society. ## Further Reading: [Is Capitalism Sustainable?](https://www.amazon.com/Capitalism-Sustainable-Michael-Munger/dp/1630691739#:~:text=In%2C%20%E2%80%9CIs%20Capitalism%20Sustainable%3F,some%20problems%20inherent%20in%20capitalism.), written by Michael C. Munger [Tomorrow 3.0: Transaction Costs and the Sharing Economy](https://www.amazon.com/Tomorrow-3-0-Transaction-Cambridge-Economics/dp/1108447341), written by Michael C. Munger