David Boaz believes we should reconsider the American style of Captialism and I couldn’t agree more (Cato at Liberty):

Of course, if this crisis leads us to question “American-style capitalism” — the kind in which a central monetary authority manipulates money and credit, the central government taxes and redistributes $3 trillion a year, huge government-sponsored enterprises create a taxpayer-backed duopoly in the mortgage business, tax laws encourage excessive use of debt financing, and government pressures banks to make bad loans — well, it might be a good thing to reconsider that “American-style capitalism.”

Yes, this unholy alliance between politicians and big business hasn’t worked out that well and we should reform it. Unfortunately, the reform being sought will just further entrench the existing structure rather than replace with something that is less intrusive.

Print Friendly, PDF & Email