Simply replying "at least capitalism is more moral than socialism and communism" is undoubtedly the greatest act of moral relativism of our modern world. The true choice is between markets operating within traditional moral framework, historically Judeo-Christian in the West, and those ignoring such framework, thereby ...more

As I've written in five published books on this subject, the greatest political confusion is caused by politicians, and therefore voters, assuming that if Washington is running a deficit, the country must be and we are therefore growing poorer. In reality, Washington is like an over-drawn checkbook that is more than of...more

For years, the US has essentially been a tax haven for foreign investors as our government hasn't reported earnings on investments held here by foreigners. That changed last month and could easily be the stimulus for a major sell off if capital flees, as I expect.

Only in France? You might explore Denmark, Sweden, etc.

The Calvinist morality that helped to build this country never detested people growing wealthier through hard work and thrift. However, it did detest insensitivity toward those in need on the part of the wealthy. Neither party seems to get that combination right. Both feel entitled, only in different ways. Neither woul...more

The ever prophetic Peter Drucker wrote Post-Capitalism Society during the mid-nineties due to precisely these concerns. Chapter Five did not mention Ayn Rand but pointedly described Milton Friedman's teaching the only social responsiblity of business is to make money as "futile." Peter long taught that no CEO is worth ...more

The great error of Conrad, Rand and all the others is seeing inequality solely in the economic dimension, when, as Adam Smith clearly knew as he wrote A Theory of Moral Sentiments before he wrote The Wealth of Naitons, economics is simply one dimension of life. For example, The Economist once detailed that greater ineq...more

Important article Fleck. The Financial Times recently quipped the Fed is already increasing the money supply faster than it did in the aftermath of 2008. That surprised me as an investment advisor so I checked. M1 is indeed increasing at nearly a 30% annualized rate.

Jim:   The Tea Party has mandated fiscal austerity, though not enough yet to "liquidate labor, liquidate capital" as so many fans of Austrian, or root c****conomics desire, rather than to deal with the worst concentration of wealth since 1929. That means the Fed is on its own to deal with unemployment and/or keep ...more