Not Time to Destroy Capitalism

Following up on my previous post on Gary Becker’s thoughts on the economy today, here is Becker himself with more to say (free registration required to read).

Capitalism has been wounded by the global recession, which unfortunately will get worse before it gets better. As governments continue to determine how many restrictions to place on markets, especially financial markets, the destruction of wealth from the recession should be placed in the context of the enormous creation of wealth and improved well-being during the past three decades. Financial and other reforms must not risk destroying the source of these gains in prosperity.