From the historic campus of Hillsdale College in Hillsdale, Michigan, where the good, the true, and the beautiful are taught, nurtured, and honored, this is the Radio Free Hillsdale Hour, bringing the activity and education of the

college to listeners across the country.

One of the things I conclude is that public hearings actually do more harm than good, I think,

to the public discourse.

This day and age, we really don't learn that much, either about the nominee or about the law

or the Supreme Court more broadly.

This is your host, Scott Bertram, and that's Ilya Shapiro, author of the new book, Supreme Disorder.

We talk about the Supreme Court and more with Ilya later on in the program.

Dr. Gary Wolfram is our first guest on today's program.

He is William Simon Professor of Economics and Public Policy,

Director of Economics, and Professor of Political Economy at Hillsdale College.

We talk at length with Dr. Wolfram about capitalism.

We see the headlines and stories today.

A growing number of opponents, skeptics of capitalism in the United States,

and often has some unfair caricatures about it.

Let's start with a definition, I guess.

How would you define capitalism?

Well, capitalism is a system where you have voluntary

exchange and you have private property rights. I mean, that's fundamentally what capitalism

is. It says, okay, I can't force you to produce anything. You can't force me to produce anything. I can't force you to buy my

stuff. You can't force me to buy your stuff. And so what happens is we get together and we say,

okay, I have property rights to, you know, whatever, you know, we have some sort of title to the

...