Man’s collective identity was expressed politically in socialist ideologies and economically in corporate structures. Technical advances empowered the collective, rendering the morality and individual prudence ill prepared to contain.
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Jonah Goldberg writes in National Review Online, Capitalism vs Capitalists Excerpts: “Every ten years I quote the same adage from the late Austrian analyst Willi Schlamm, ….. ‘The trouble with socialism is socialism. The trouble with capitalism is capitalists.’” If
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“A dynamic economy will always have booms and busts. But the story of the past twenty-five years is that Washington has created a financial system that cannot withstand the destructive part of creative destruction – necessary for free markets- without
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“Could free markets have sorted out the mess without extraordinary government action? Yes, but only by destroying the remains of the financial system and possibly putting tens of millions of people out of work. Despite virulent public opposition to the
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“Despite elite concerns of a public backlash against capitalism, it has been the public, not Wall Street or Washington, that has supported capitalism all along. Financiers were disconcertingly quick to run straight into the governments arms, while the public has
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