St. John's University Law Faculty Blog

Professor Sovern has an op-ed in The New York Times DealBook, titled The Risks of Unfettered Capitalism. The first and last paragraphs read:

Capitalism may be the best economic system ever devised, but one of its drawbacks is that it provides financial incentives to harm and even kill people. Just ask those people who say they have been victimized bycigarettes, predatory lenders, Volkswagen diesel emissions, Takata airbags,General Motors ignition switches, Trump University, Vioxx, asbestos or other products.

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Many voters will base their decision in this year’s election on the character of the candidates, or other issues, like immigration or foreign policy. But how we protect people though regulation is also very much on the ballot. When you hear complaints about too much regulation, don’t forget to ask what harm that regulation may prevent. Capitalism lifts standards of living — but regulated capitalism keeps us well enough to enjoy a higher standard of living.

Posted on August 19, 2016 at 1:51 pm in Uncategorized   |  RSS feed |   Reply   |   Trackback URL