Barak Obama’s graduation speech seems to call listeners to ask this question: What should be government’s role? So, let’s look at the intricate interface between government and capitalism.
How can capitalism be fixed, patched, put back together? It begins with refurbishment of mission. What do we want and what are we willing to sacrifice in order to get it? Also, what do we want for the generation just behind this one, and those following after them?
Contemporary advocates of returning to laissez-faire argue against any significant role for government, therefore they oppose mission clarification for planning purposes. That’s what the “free market” in capital assets does, they exclaim. Their perspective creates a myriad of problems, of course. The Trump Administration’s unpropitious response to the Coronavirus challenge illustrates this painful reality.
~ Jim Sawyer