Capitalism: It's Great If Actions Based on Ethics and Values

Fareed Zakaria has become special to me over the last year. His knowledge appears to be broad-based and his perspectives seem very balanced (more than mine!).

In a recent article on capitalism, he captured the many positive aspects of capitalism as well as pointing out the necessity that those who are in positions to succeed, base their actions on appropriate ethics and values.  In short, all the regulations in the world (albeit, I do support regulations being drafted by the Administration) will never ensure that financial disasters will not occur. People have to be behave ethically. None of financial instruments proven to be implicated in the current mess were used illegally. Few will be found guilty of crimes (some may have occurred secondary to fraudulent deals with unsuspecting customers), but many will fail the tests of common sense and values based on sober ethics.