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JohnRgt

"Capitalism is so broken it can't be fixed."

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So the story continues: Ask yourself, will it work in time to save America from the dark shadows Jack Bogle wrote about years ago in “The Battle for the Soul of Capitalism”? Unlikely. We’ll never return to Adam Smith’s ideal 1776 capitalism. Today, Ayn Rand, capitalism’s new patron saint, locks in modern capitalism as a conservative ideal that speaks to conservatives:

“When I say capitalism, I mean a pure, uncontrolled, unregulated laissez-faire capitalism, with a separation of economics, in the same way and for the same reasons as a separation of state and church,” totally free of all government restrictions. “Capitalism is the only system that can make freedom, individuality and the pursuit of values possible in practice because capitalism demands the best of every man, his rationality, and rewards him accordingly. It leaves every man free to choose the work he likes, to specialize in it, to trade his product for the products of others, and to go as far on the road of achievement as his ability and ambition will carry him.”

Rand’s ideas have a lot to do with polarizing American politics. In her classic, “Atlas Shrugged,” a capitalist elite engages in perpetual class warfare for the soul of America, fighting society’s “moochers, looters and parasites,” anyone and everyone demanding government money to solve their problems. More recently this has become the rhetoric of the ideological war between “makers and takers.”

http://www.marketwatch.com/story/capitalism-is-so-broken-it-cant-be-fixed-2013-02-23?siteid=yhoof2

(See page 2)

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So the story continues: Ask yourself, will it work in time to save America from the dark shadows Jack Bogle wrote about years ago in “The Battle for the Soul of Capitalism”? Unlikely. We’ll never return to Adam Smith’s ideal 1776 capitalism. Today, Ayn Rand, capitalism’s new patron saint, locks in modern capitalism as a conservative ideal that speaks to conservatives:

“When I say capitalism, I mean a pure, uncontrolled, unregulated laissez-faire capitalism, with a separation of economics, in the same way and for the same reasons as a separation of state and church,” totally free of all government restrictions. “Capitalism is the only system that can make freedom, individuality and the pursuit of values possible in practice because capitalism demands the best of every man, his rationality, and rewards him accordingly. It leaves every man free to choose the work he likes, to specialize in it, to trade his product for the products of others, and to go as far on the road of achievement as his ability and ambition will carry him.”

Rand’s ideas have a lot to do with polarizing American politics. In her classic, “Atlas Shrugged,” a capitalist elite engages in perpetual class warfare for the soul of America, fighting society’s “moochers, looters and parasites,” anyone and everyone demanding government money to solve their problems. More recently this has become the rhetoric of the ideological war between “makers and takers.”

http://www.marketwatch.com/story/capitalism-is-so-broken-it-cant-be-fixed-2013-02-23?siteid=yhoof2

(See page 2)

That guy is the Floyd Ferris of economics!

ruveyn

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