Book #48 - Why Capitalism

I picked Why Capitalism? up at the library, from conservative economist Allan Meltzer. It's an interesting look at our capitalist system, how it differs from socialism and the practices in the rest of the world. It's a new book, talking up through events in 2011, and rather fascinating.

The more I read it, the more I agreed that we are in a crisis, though the author and I aren't sure when it will come to a head. However it's a problem and it's a problem from both liberals and conservatives, who have grown increasingly far apart and have allowed special interests to cause issues.

It's not too much of a political book, but it does make the case for very free markets, with some regulation, but regulation that is designed to punish based on actions, rather than set rules by unelected officials. The cigarette tax is an example. You are free to smoke, but it costs.

It's also interesting that only Eisenhower and Clinton ran surpluses, showing us that both the GOP and Democrats are to blame for our issues.