Now, I'm just a basic guy, but it seems to me that the economy has always been broken. Use the other word if you like: capitalism has always been broken. At least to one degree or another. Why is it, or always has been, broken? None other than John Adams has given a hint as to why. He said:
Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.
Just as our Constitution works best with a moral people, the same goes with our economy. Capitalism works best in the hands of a moral people. We have had plenty of evidence of this principle over the last decade as we have watched the parade of financial scandals that have rocked this nation.
Some believe that the answer lies in a heavy handed government. So, let me get this straight. We should take our economy out of the hands of a scandalous private sector and put it into the hands of a scandalous public sector... the government in Washington. That makes sense. Take it out of the hands of thousands in the private sector and entrust it in the hands of hundreds in government (or in our case... one). I'm sorry, but that makes no sense at all. Socialism is entrusted the world we have known into fewer hands. And what if those hands have an even more insidious agenda? America would be in serious trouble.
This is what I think. Capitalism has been the engine that has built the greatest nation in history. It has produced the greatest wealth and inspired ingenuity and unmatched philanthropy. No country that has languished under the cloud of socialism has achieved so much. I know capitalism has its problems and sometimes severe weakness. But even with all of that, broken capitalism is a far better friend to and answer for America that any form of a government run economy.
That said, the best thing for us is to inspire to superior morals in this country. From father to son, mother to daughter, teacher to student, banker to customer, Wall Street to Main Street, preacher to congregation, let's do ourselves a favor and inspire to be a moral people. Let's not allow John Adam's words to haunt us, but to inspire us. We need to reclaim the American dream.