I'm hearing more and more reports from the media these days that capitalism is failing, mostly because of "greedy business people". "Greed" is a judgment-laden word that has been the cause of much of the attack on capitalism. I would much rather describe it as "human self-interest". Government is not going to change human nature. Whatever government decrees, people will find a way to circumvent it.
A free people will make the best decisions for themselves they can for the conditions at hand. The one thing they can't make good decisions for is uncertainty. And that is exactly what our government is now providing. As Congress and the President endlessly tinker with economic policy, many logical individuals are unwilling to put money in banks, real estate or the stock market. Can you blame them?
Government policies may lower interest rates - or raise them due to inflationary fears. Spending trillions of dollars is debasing our currency. Constant changes in policy lowers the public confidence.
And then we're told that capitalism isn't working? I beg to differ. These policies aren't capitalism failing. They're socialism failing.
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