Talk of The Villages Florida - View Single Post - Two Excellent Articles--Not To Be Missed
View Single Post
 
Old 06-21-2009, 08:11 AM
Guest
n/a
 
Posts: n/a
Default

Quote:
Originally Posted by Villages Kahuna View Post
I'd strongly suggest that folks take a few minutes to read a couple of articles in the current issue of Newsweek magazine. I subscribe to it and was immediately drawn to pick it up from the mail pile to read the cover story: The Capitalist Manifesto: Greed Is Good.

The article was written by Fareed Zakaria, the talented writer and host of the excellent Sunday afternoon show on CNN called GPS. In this Newsweek article, Zakaria reviews the history of capitalism, how it has been the most successful economic force in the world for hundreds of years, how the current financial crisis is not significantly different from many others experienced in the world in history, and how and why he thinks that capitalism must survive and thrive again. Zakaria "tells it like it is", but puts things into a perspective that few writers have done that I've read. The article won't make you feel good about what has happened to our economy, but it may make you feel a bit better about what we all might hope for in the future. But there's a big IF, and Zakaria tells us what the "if" is at the end of the cover article. An excellent read.
Great article, thanks for sharing. His comments on morality were right on, however I think it is unrealistic to expect that companies and politicians will act with their consciences. I think when there's money or power involved, morality seems to go out the window in many instances, as we have seen with Enron, Tyco and others. I'm not sure what the answer is - at the very least it seems like we need an oversight body to establish professional standards for audits and ethics and to regularly review firms to ensure that they are meeting these standards.