inequality

Liberty Quotation: Garry Kasparov on Capitalism and Inequality

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garry_kasparov“In recent years the attacks on capitalism have increased as inequality has increased. . . . But capitalism has not failed us; we have failed capitalism.

“I’m afraid my memory is not photographic as some of the legends about me say, but I am sure I would remember if the works of Adam Smith included the phrase, “too big to fail.”  When the state steps in, deciding which companies live or die, things have gone terribly wrong.  If a bankrupt small business in South Carolina can go belly up, so must General Motors, so must Goldman Sachs.”

Garry Kasparov, “The Influence of American Values,” Cato’s Letter (Summer 2014)