“A specter is haunting Europe — the specter of Socialism’s slow collapse. Even in the midst of one of the greatest challenges to capitalism in 75 years, involving a breakdown of the financial system due to ‘irrational exuberance,’ greed and the weakness of regulatory systems, European Socialist parties and their left-wing cousins have not found a compelling response, let alone taken advantage of the right’s failures.” (New York Times, Tuesday)

Notice the unwarranted assumption that it’s the free market which failed.

FEE Timely Classic
“Capitalism: Yes and No” by Clarence B. Carson