Main culprit of capitalists problems
Reader comment on: Good Value
Submitted by Jose A Hernandez (United States), Mar 6, 2010 16:36
Rev Green considers that Friedman's standard of capitalism is lacking, The Reverend does not believe it is sufficient if capitalists, as Friedman proposes, aim to increase their profits even if they stay within the rules of the game. He sees Friedman's vision as lacking and detrimental to the well-being of society. To amend this deficiency the Reverend proposes other guiding principles, including social concerns, to adjust capitalism to our modern needs.
The Reverend is missing the main culprit for the modern distortion of capitalism which prevents Friedman's vision from achieving the expected benefits. I am referring to the practice of crony capitalism that our modern states have generated. The special deals - such as tax-breaks - our government offers to "special" groups - mainly political powerful groups or well-connnected lobbyists - distorts the working of a free market to the detriment of society. This is the main culprit.
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