First of all, this is not a concession. I am firmly a laissez faire capitalist, and I believe the system to be flawless in an ideal society. On an individual by individual basis, everyone can succeed via capitalism.
However, this doesn’t mean that countries can. For example, capitalism is never going to free Darfur. And because third world countries are breeding grounds for terrorism, capitalism has some short comings in the global market. So why do I mention this? Well if you read my last post you would know. =P
The other reason is that I have recently started reading Where Did My Capitalism Go? and the author posed a question about the role of the government in protecting people economically. In the case of global capitalism, economic and physical protection start to merge: without economically stable countries, we do not have a physically stable world (I’m sure you knew that, what with North Korea having threatened to wipe us all off the map just a few hours ago).
So, does this mean that our government should declare countries “Too Big To Fail” and start supporting them? Well, it’s sure as hell a better idea than declaring that of businesses.