Jeff Sovern on the Risks of Unfettered Capitalism
The Risks of Unfettered Capitalism
Op Ed by Jeff Sovern
The New York Times DealBook
August 15, 2016
Capitalism may be the best economic system ever devised, but one of its drawbacks is that it provides financial incentives to harm and even kill people. Just ask those people who say they have been victimized by cigarettes, predatory lenders, Volkswagen diesel emissions, Takata airbags,General Motors ignition switches, Trump University, Vioxx, asbestos or other products.
Many voters will base their decision in this year’s election on the character of the candidates, or other issues, like immigration or foreign policy. But how we protect people though regulation is also very much on the ballot. When you hear complaints about too much regulation, don’t forget to ask what harm that regulation may prevent. Capitalism lifts standards of living — but regulated capitalism keeps us well enough to enjoy a higher standard of living.