Cowen's Capitalist Manifesto

12 Pages Posted: 17 Jul 2020 Last revised: 1 Dec 2020

See all articles by F. E. Guerra-Pujol

F. E. Guerra-Pujol

Pontifical Catholic University of Puerto Rico; University of Central Florida

Date Written: November 30, 2020


In 1848, two obscure German philosophers, Karl Marx and Friedrich Engels, published a revolutionary pamphlet called “The Manifesto of the Communist Party.” The Communist Manifesto, destined to become one of the most influential works of political philosophy of all time, began with these famous words: “A spectre is haunting Europe – the spectre of communism….” Now, almost two centuries later, someone has finally chased down this seductive spectre and attempted to bottle her up for good. That someone is Tyler Cowen. In brief, Cowen has just published a kind of “Capitalist Manifesto,” one that is even more intoxicating and liberating than Marx and Engel’s original screed. Far from the source of all things evil, Cowen explains why privately-owned business firms should be praised.

Keywords: big business, corporations, corruption, CSR, ethics, theory, transaction costs

JEL Classification: B14, B31, D21, K22

Suggested Citation

Guerra-Pujol, F. E., Cowen's Capitalist Manifesto (November 30, 2020). Available at SSRN: or

F. E. Guerra-Pujol (Contact Author)

Pontifical Catholic University of Puerto Rico ( email )

University of Central Florida ( email )

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