This 1967 lecture is Ayn Rand’s flagship talk on capitalism. In it she explains in depth what capitalism is, why it is often misunderstood and why it is the only social system consonant with man’s nature. She discusses the moral roots of capitalism in contrast to the moral doctrines that lead to rule by force, which underlie all tyrannies throughout history. This talk is excerpted from Rand’s substantially longer and more comprehensive essay of the same name. Students interested in mastering Rand’s views on capitalism are encouraged to study the full essay, available here, in addition to enjoying the lesson.