Distinguishing between Greed and Capitalism

It hasn't been a good several months for proponents of free markets, minimal government intervention, and deregulation. According to the pundits the current economic malaise that we are mired in is a direct result of a system that was unchecked and corrupt. Take a look around you and you are literally awash in examples of individual greed, corporate irresponsibility, and short sightedness. Here are just a few:

• Mr. Bernie Madoff creates an elaborate hedge fund that is nothing more then a Ponzi Scheme. He manages to to destroy $50 billion dollars and the financial security of thousands of lives before anyone is able investigate.
  
• The tarnished titans on Wall-Street who led the way in rampant risk taking accept government money and then continue to their lavish ways (bonuses, retreats, etc...) as if they were still living in 1999.
• Government officials and lobbyists beholden to the siren song of Saudi dollars. (Read "Sleeping with the Devil" for details)The very people on Capital Hill who condemn the acts of greed that take place on Wall Street are themselves getting kick backs from the special interests who pay for their votes.
  

We could literally fill up pages of stories like this. Tales of Enron only make it that much easier for the jaded public to accept possibilities of increased government intervention and populism. As someone who heeds the capitalist way I have to admit that these astonishing tales of corruption make me openly wonder if I should replace the pin stripes of those Brothers Brooks for the working man's trousers of the people.

I think that it is important that we all take a deep breath and not over react. I think we need to determine whether or not it is possible to separate the pillars of capitalism from its deranged brother-in-law, greed. Adam Smith taught us that it is the thousands of independent self interested people working to better their station that forms the invisible hand.

Is it wrong to want to take care of your family and get ahead?
Are there acceptable limits to greed?
Should we be compelled to share our abundancy with others?
What role should the government play in managing wealth distribution?

I don't know what to think. I know that I don't want half of my pay check going to a government that might use my money on programs that I don't agree with. I also think that corporate greed needs to be reigned in. It can safely be assumed that corporate ethics are a thing of the past. Short sighted self interest is a trait that is here to stay and firmly entrenched in our psyche. It's all about getting in getting rich and getting out. I even saw this tendency at BYU as hundreds of grads would line up to worship before the Gods of Goldman, Lehman, and Bain. The invisible hand of Mr. Smith has grown some serious nails that have become rather sharp and need to be trimmed.

So I humbly ask what needs to change in order for capitalism to be fixed? Can it be fixed or should we rely on government to reign in greed? But then again who is to say that the government doesn't become too greedy with its power?

I'm a fan of history and there's one thing that has remained constant. You truly can buy anything in this world with money. Everyone has a price. Best intentions can always be justified for the right pay off. Greed isn't just the American way, it's human nature.But greed has an especially firm grip on our nation right now. Right now it appears that individual Americans and entities are in the stranglehold. Since we can't trust government to loosen the grip are we capable of doing it ourselves?

These next few years will be very telling. It's a shame that I don't have a number for any good oracles because I'm anxious to see how this thing plays out. Thanks a lot Gordon Gekko. You suck. You've paved the way for another Wesley Mouch.