Carl J. Schramm

Paper Summary:

The paper discusses the theories and philosophies of Carl J. Schramm with respect to entrepreneurialism, capitalism, aristocracy of wealth, and America's relationship with China.

From the Paper:

"The controversial implications of his theory lie in the fact that Schramm suggests that it is acceptable to do business with oppressive free market economies in Latin America, Asia, and other areas of the world, because supposedly capitalism will eventually foster a liberalized government. Schramm's belief in the links between a free market system and the ability to freely enjoy one's rights and liberties is so absolute he calls the Scottish author of the Wealth of Nations, Adam Smith an unheralded Founding Father of America. In a recent editorial entitled "Capitalism spreads freedom even as democracy falters" .Schramm wrote: "Smith's great revelation was that political freedom would most likely emerge and persist under conditions of economic freedom, what we now call capitalism. Our democratic system as defined in our Constitution incorporated respect for this economic system" .

Sample of Sources Used:

• Schramm, Carl. "Capitalism spreads freedom even as democracy falters." Editorial. USA Today. 27 Jun 2006. 28 Nov 2007. http://www.usatoday.com/news/opinion/editorials/2006-06-27-capitalism_x.htm
• Schramm, Carl J. The Entrepreneurial Imperative. Collins, 2006.
• Schramm, Carl J., Baumol, William, and Litan, Robert. Good Capitalism, Bad Capitalism. Yale Press, May 2007.

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