Capitalism

Free markets did not cause this crisis

Acton Institute | Oskari Juurikkala | Oct. 29, 2008

Many assert that the ongoing financial crisis was caused by rampant capitalism and free-market economics. I disagree – not because I’m a hard-nosed conservative or a reckless libertarian, but because it’s the conclusion one reaches by a reasoned analysis of the facts.

There are at least three distinct but related reasons for the crisis: the culture of greed and consumerism, irresponsible monetary policy, and misregulated financial derivatives. Are they rooted in free-market principles? Let’s see. [Read more…]

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Obama’s Adam Smith Problem

American Thinker | Ed Kaitz | Nov. 1, 2008

Barack Obama has advanced the astonishing thesis that by “spreading the wealth around” he’ll somehow create a more benevolent society. But we’ve seen above that since benevolence can never be extorted by force the only thing Obama will succeed in doing is spreading suspicion, resentment, and poverty – the condition of any society whose lawmakers “push too far.” A vote for John McCain on Tuesday can help keep America in the good hands of the humble yet brilliant Scottish economist who, in his race to develop a solution to the problem of scarcity, never lost sight of man’s most important virtue: freedom. [Read more…]

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