Frank Timmins writes to the Dallas Morning News a much-needed defense of capitalism in response to Rod Dreher’s attack last week. As Timmins points out, the problem (as with most problems today) can be traced back to a single source. Jump for the Timmins’ letter.
Debt-challenged boomers Rod Dreher, despite his sensational column title, makes some good points. Unfortunately he links capitalism (essentially an economic system) with unbridled consumerism, which, as he points out, is creating debt that may not be payable. That is a failure to distinguish the baby from the bathwater. The sloppy inability to manage finances comes from a flaw in the Baby Boomer persona — a failure to instill financial discipline in offspring. It is not an economic problem, nor even a problem that can be blamed on businesses, big or otherwise. These entities operate as expected within a free-market system. Rather, it is a cultural and educational problem and should not sully the most perfect system of prosperity the world has known.
Frank Timmins, Dallas