Something's gone wrong with the global economy. But there are ways to put things back on track.
The solution is to encourage more capitalism.
The author suggested that governments must not rescue banks. Only freer markets can ensure that wrongdoers lose and do-gooders win.
Secondly, to encourage more corporate governance for better financial management and moral justification for a capitalist system.
So, what is the proper definition for capitalism ?
Capitalism biggest opposition is communism. Period.
Capitalism is a meritocracy that rewards the hardworking and talented. However, the biggests problem with capitalism is the widening gap between rich and poor. What about equal opportunity ?
There can never be. It is never perfect. It is like trying to make things right for a specific period of time. Does it means that parents who can afford early education for kids must defer sending childrens to pre-school so that it will create more equality for others who can't afford. It doesn't make sense either.
The solution is to encourage a freer economy ? Yes but we need more than that.