In a Forbes blog post titled “Failure of Morality, Not Capitalism,” Rich Kaarlgard counters the critics of supply-side capitalism by pointing to an absence of morality. Kaarlgard declares:
Many people do blame capitalism for bringing us to this low moment in the economy. Do they have a point?
They do if capitalism, as they define it, is devoid of any underlying morality. True enough, it is hard to see any underlying morality when one surveys the present carnage caused by liar loans, shady banks, duplicitous politicians, Ponzi schemers and regulators angling for Wall Street jobs.
Kaarlgard concludes by noting the importance of returning to a free enterprise system with a moral framework, saying, “Every alternative you can imagine is much worse.” He also offers a video version of the post.
