Putting the “ism” back into capitalism – The need for reform and education
Previous School | Next Schooln a thoughtful op-ed article in the Financial Times "Uncertainty bedevils the best system", Edmund Phelps, 2006 Nobel Laureate in Economics, emphasizes the point that while capitalism faces the second greatest crisis of its history, reality is that "unfortunately there is still no wide understanding among the public of the benefits that can be fairly credited to capitalism and why these benefits have costs. This intellectual failure has left capitalism vulnerable to opponents and to ignorance within the system."