‘Political capitalism’ explained in Wichita
In Wichita this Monday, Robert L. Bradley, Jr. explained the state of capitalism in America today, using his experience working in a high-level position at the failed energy conglomerate Enron as a backdrop. Bradley asked: What happened to business prudence? What has happened to capitalism? The answer is that what we have today is not free market capitalism. Rather, it's a very different type of capitalism: political capitalism. A common question today is has capitalism failed? Problems are automatically blamed on greed, self-interest, and profit maximization -- in other words capitalism. Historically, robber barons have been condemned as examples of…