There is
not a single day that passes that I don’t hear some of my Wall Street peers
complain about the state of capitalism in America today – and how different it
is from only a couple of decades ago.
Is
capitalism broken or what, exactly, has happened to this “fountain of money and
growth” to draw such irritation among Wall Street financiers today?
I don’t
believe that capitalism is broken but it is a fact that capitalism requires
freedom to work. It frankly is not and has never been designed to work in an
environment dominated by market controls, regulations, artificial barriers to
entry, monetary manipulation and a myriad of other government interventions. To
the extent that these things are present, I am afraid capitalism will appear
broken. It is a wonder that what little capitalism that remains can still tug
us along the path of progress as much as it does.
Thank You
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