Capitalism on Trial

Isn't it funny and, yes, a little frightening that Republican candidates for President like Newt Gingrich and Rick Perry can make blatant anti-capitalism statements for their own seeming political gain?  (See details at: Newt's Attack and Perry's Attack.)  Fortunately it doesn't seem to have so far worked ... but this is just the beginning of a full-frontal assault on our free-enterprise system that is bound to occur once the presumptive Republican candidate, Mitt Romney, is chosen.  He and Bain Capital, the private equity firm he once ran, will be made the poster children of this onslaught.  This belligerency is what the Occupiers represented this past summer and fall ... and the surprising sympathy that they received among many media types and left-leaning pols was a omen of what is to come in this fall's election season.

The liberals in the United States have for generations been eating away at the foundations of capitalism ... often funded from the profits gained from the very system they despise.  This is despite formidable evidence that capitalism is a wealth generating engine nonpareil and that its many alternatives are not.  Just the contrast that is evident in China where merely a soupçon of capitalism has unleashed mighty forces that are propelling this former denier of property rights into an economic powerhouse ... should be enough to convince the Occupiers that their nihilism is futile.  But no ... the current economic stagnation in the United States, has inflamed the juices of these anarchists.  They would pull down the economic structure of this country around their heads without any thought-through idea of what to build in its stead.

Yes, capitalism does develop some warts from time to time (trusts, insider trading, creative accounting, carried interest, crony capitalism, etc.) but these have, can, or should be easily remedied.  And many politicians, unfortunately including Gingrich and Perry, but more predictably including Elizabeth Warren and Barack Obama are more than willing to capitalize on this current anti-capitalist fervor to gain or retain their place at that feeding trough called "big government."