Jackie Danicki

I’m begging a particularly eloquent, non-blogging friend to write a reaction to all of the complete crap being spouted about the supposed “immorality” of wealth (ugh). His emails alone on the topic are better than any published work I’ve read on this mess so far. Axioms like the following, noted by my friend via email, don’t seem to be recognized by roughly 99 percent of those writing on the topic:

[T]he main point is that the massive moral benefits of the market (vast wealth creation) have nothing to do with relying on any particular special virtues in the people tring to make money on the market. In fact as Adam Smith pointed out - quite the opposite:

It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages.

FFS, even David Brooks is writing in the New York Times about an “excess of capital”! Where will this madness end?

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