The Not-So-Great Wall Street of China
Commentary
The moral truth about capitalism was argued eloquently by George Gilder in his 1981 opus “Wealth and Poverty.” “Not from greed, avarice, or even self-love can one expect the rewards of commerce, but from a spirit closely akin to altruism, a regard for the needs of others, a benevolent, outgoing, and courageous temper of mind,” Gilder wrote in the book often referred to as the bible of the Reagan administration.
The tax cut-fueled Reagan prosperity that followed the Jimmy Carter malaise provided real-world vindication for the rich sociological evidence Gilder brought to bear against the intellectual status quo within academia regarding the free market. But Gilder never contended it wasn’t possible for men who make a lot of money to be stupid and treacherous….