The market and democracy can only work in an ethical framework of trust: this institutional framework expresses the limit and the precondition for the market, democracy and economic and political order that they help to promote.
Gordon Tullock, renowned economist, left considerable impact on the field of economics, largely through his singular disenchantment with the political realm.
The fundamental economic problem of the post-World War II era which the Bretton Woods conference intended to address, was to avoid a system of flexible exchange rates that could have nourished the reasons for international conflict. To avoid such a result, a process was begun, aimed at creating international institutions and a fixed-rate system of monetary exchange.
Italy is a country that is becoming impoverished. One need only look around to see that.
The debate between Christianity and classical liberalism turns up again cyclically, and there is always someone who brandishes the concept of “social justice” as the reason for their incommunicability and irreconcilability.
In America, where the classical liberal tradition is stronger than in Europe, capitalism benefits from a widespread popular support.