Once again, Capitalism gets the blame for our problems

[Craig24]

I just now discovered this "gem" of an article posted yesterday morning on Marketwatch.  Some highlights:
 

For the rest of the world, capitalism is not working: A billion live on less than two dollars a day. With global population exploding to 10 billion by 2050, that inequality gap will grow, fueling revolutions, wars, adding more billionaires and more folks surviving on two bucks a day.

 

..

 

For more than three decades Sandel’s been explaining how capitalism is undermining America’s moral values and why most people are in denial of the impact. His classes are larger than a thousand although you can take his Harvard “Justice” course online. Sandel recently summarized his ideas about capitalism in the Atlantic. In “What Isn’t for Sale?” he writes:

 

“Without being fully aware of the shift, Americans have drifted from having a market economy to becoming a market society ... where almost everything is up for sale ... a way of life where market values seep into almost every sphere of life and sometimes crowd out or corrode important values, non-market values.”

 

..

 

What is certain: Capitalism is eliminating moral values, as Nobel economist Milton Friedman and capitalism’s philosopher Ayn Rand had been preaching to the generation. As Sandel puts it: “Each party to a deal decides for him- or herself what value to place on the things being exchanged. This nonjudgmental stance toward values lies at the heart of market reasoning, and explains much of its appeal.”

 

Is this a case of cognitive dissonance?  Government in the US exercises more and more control over the economy with each passing year with the expectation that our economic problems will be solved by those controls but when things get worse instead of better, capitalism or deregulation gets the blame ( John Allison exposes the deregulation myth here ).  It's very disappointing when you see this coming from Marketwatch (the Wall Street Journal).  

[Harrison Danneskjold]

It seems to me like he's accurately realized that capitalism is incompatible with altruism- and is advocating the latter.

 

His examples of a capitalistic society (as opposed to mere economy) amuse me.  Privatized schools, advertising on buses and in parks and "naming rights".  He's the sort of man who would abhor anyone naming anything that they create; you may, from this, draw your own conclusions about him.  ;D