Comment by Bill Holmes

Entered on: 6/10/2008 3:57:21 PM

"... to erase "free market" capitalism's defects...." What "free market capitalism"? The U.S.A. is a highly regulated market. There are so many taxes, subsidies, price supports, mandates, etc., that it's practically impossible to determine the true cost of anything. It's a wonder capitalism functions at all.

The primary cause of "business cycles" are central banks, like the Federal Reserve and its ability to create money by fiat. Bernanke admitted the FR caused the great depression. It also caused the current financial mess with easy 'money' via fractional reserve banking, and many lesser messes in between.

Try distinguishing between managed and free markets, mercantilists and business men, welfare and charity, etc., and you'll be less confused.