I agree. Free market capitalism is fine when practiced ethically. It’s crony capitalism or the corporatist system that rewards those who manipulate the political process which is a big problem.
“Capitalism should not be condemned, since we haven’t had capitalism. A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank. It’s not capitalism when the system is plagued with incomprehensible rules regarding mergers, acquisitions, and stock sales, along with wage controls, price controls, protectionism, corporate subsidies, international management of trade, complex and punishing corporate taxes, privileged government contracts to the military-industrial complex, and a foreign policy controlled by corporate interests and overseas investments. Add to this centralized federal mismanagement of farming, education, medicine, insurance, banking and welfare. This is not capitalism!”
Has Capitalism Failed? by Ron Paul by Ron Paul DIGG THIS This article is excerpted from Part I of Pillars of Prosperity. An MP3 audio file of this article, read by Dr. Floy Lilley, is available for download. Before the U.S. House of Representatives, July 9, 2002 $35 $24 It is now commonplace and...
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