Sunday, September 12, 2010

Keynes on Capitalism

I don't know if Mr. Keynes actually said this, but the quote is too good not to share:

“Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” —John Maynard Keynes

Mr. Keynes seems to forget that neither regulation nor socialism will reform wicked men. As I've written before, effective capitalism requires mutual trust to be effective. In short, the best economic systems are as honest and transparent as possible. It is possible to have capitalism that is transparent and honest, and that kind of economic system should be our goal--not simple-minded socialism or cuckoo conservatism.

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