Ethical Capitalism

Ethical Capitalism: Advent of an old Economic Paradigm Ped Salvador MARHS Batch’ 71 January 5, 2011 Greedy Capitalism Milton Friedman, the noted and famous American economist before a live interview in a television show had mentioned that Capitalism as an... More

Ethical Capitalism: Advent of an old Economic Paradigm Ped Salvador MARHS Batch’ 71 January 5, 2011 Greedy Capitalism Milton Friedman, the noted and famous American economist before a live interview in a television show had mentioned that Capitalism as an economic system will never succeed unless this will be based from a foundation of greed. He also emphasized that other forms including socialism, communism, and fascism were all together based on the fundamentals of greed. Mr. Friedman who died in 2006, unfortunately did not see and experienced the decline of the so- called Capitalism based on greed as the world is now experiencing a global economic crisis which may continue in the coming more years. This bad economic scenario incidentally, further aggravated with the collapse of housing and automotive industries in the late 2000’s that created havoc on the life of not only ordinary American individual but also affected countless middle class families in the United States. The bo Less