On Capitalism And Free Markets

I am not an economist. Nor are the members of the band Cake. But the band posted an interesting quote, attributed to British economist John Maynard Keynes, last week.

Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.

That's what Keynes wrote. And, that's what Cake brought to my attention, which got me thinking.

Then today I pick up the new copy of The Economist that arrived in the mail. What do I read inside the back cover but an incredibly intriguing collection of answers by prominent thinkers to the question "Does the free market corrode moral character?"

Chess impresario Garry Kasparov answers "Yes, but other systems are worse."

I rather like Princeton professor emeritus Michael Walzer's response. I think it's the most honest. He says "Of course it does."

You can read more online at the John Templeton Foundation. Interesting stuff.