November 2, 2011
Capitalism in Crisis? Surely You Jest!
British conservative Charles Moore visited the Occupy chaps at St. Paul's Cathedral in London and came away a bit bemused. The protesters seem to imagine that, without their tented witness to the wickedness of the rich, no one would have noticed that capitalism is in its biggest crisis since the early 1930s. "Abolish wealth," cried one of their posters. Don't the angry campers realise that the West's bankers and politicians are managing it nicely without needing any extra help? Good point, Charlie. There's nobody to equal a politician or a bailed-out banker when it comes to managing the destruction of wealth. Let's just hope they don't abolish the wealth that produces iPhones and the artificial fibers used in modern outdoor tenting. But I take exception to the notion that "capitalism is in its biggest crisis since the early 1930s." Really, I thought that conservatives, at least, understood that capitalism's notorious crises almost always issue from a crisis of...(Read Full Article)