In this week’s Forbes issue, cover story Forbes 400, Steve Forbes column is fabulous! Read it!
Previously, I was jotting notes for a page on this site to be titled, “In Defence of Capitalism.” However, Mr. Forbes has beaten me to the punch, and done so with superior quality. His article, “Capitalism: A True Love Story,” highlights some basic tenets of capitalism, such as how it creates wealth and brings better things to the broadest possible public. Forbes rightfully dispels the myth that the government can create wealth (it merely distributes or destroys it), and he gives erudite examples of how poor government actions caused the Great Depression (Smoot-Hawley Tariff Act) and inflation in the 1970s (excessive money printing by the Fed).
Overall, a great read.
http://www.forbes.com/forbes/2009/1019/opinions-steve-forbes-capitalism-true-love-story.html
