Yuval Levin — Recovering the Case for Capitalism

For friends of capitalism, the last two years have not been pleasant. First came a cascade of market calamities that seemed almost designed to confirm the worst clichés about free enterprise. The crisis had it all: reckless investors, careless lending, irresponsible borrowing, wild speculation, charlatan financiers, signs of under-regulation, retirees losing their life savings while Wall Street fat cats got their bonuses, and even the sight of Alan Greenspan apologizing to a congressional committee for keeping the reins too loose.

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