Barron's Editorial Page Editor Thomas G. Donlan has just come out with a new book, A World of Wealth: How Capitalism Turns Profit into Progress, touting the benefits of free-markets.
timing is not so good, since many attribute the current economic free-fall to a failure to properly regulate markets.
advocates the "tax magic" of trickle-down, "if you really want to raise taxes on the rich, you should cut their tax rates the way Congress and President Bush did in 2001, 2002 and 2003... America needs a flat-rate tax, on income or on consumption, with the lowest possible rate and broadest possible base.
words fail to ring true when taxpayers are bailing out firm after firm because they are "too big to fail."
I do agree with Donlan
that "real capitalists all too often attempt to use the power of government to their advantage, lobbying and bribing to obtain favorable treatment for their business endeavors.
solution is more limited government "foreclosed from absolute power.