Ilustafteraynrand

Laissez Faire capitalism is as much an ideal as pure communism. Following your logic (what is moral is most practical and vice versa), GUIDED capitalism is the most moral economic system. To assert, as Adam Smith did, that an "invisible hand" steers the economy in the right direction, one must rely on faith. The economy cannot guide itself. There need to be regulatory bodies like the Fed that protect individuals from going bankrupt. In the absence of the gold standard, if your bank goes under, you lose all your money. Guided capitalism ensures economic stability.