Here is recent article by Dr. Jay Richards clearing up a misconception that capitalism is based on greed. The reason why we post on economics here is not for a particular political ideology. It is because economics effects a lot of people…especially the poor. If America catches a cold, then many places in the world come down with pneumonia or worse.
“Capitalism doesn’t need greed. What capitalism does need is human creativity and initiative. After months of hearing the media and pundits pronounce the untimely death of capitalism, it did my heart good to see a recent Newsweek cover story challenge the familiar trope. The author, Fareed Zakaria, noted that this pessimistic pronouncement gets air time in the wake of every financial downturn. But in reality, capitalism, over the long haul, has succeeded far beyond any other economic arrangement in human history. If worldwide communism couldn’t destroy capitalism, why are we so quick to believe that some bad fiscal and government policies in real estate will do it? Unfortunately,(more…)”
Richard’s book, Money, Greed, and God is thought provoking and important: