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The Father of Capitalism did not believe in unrestrained capitalism

Adam Smith believed governments can and should intervene, that oversight is crucial, and excess political influence from economic power was dangerous.

Of course, what we have now is hardly capitalism, but more like a kleptocracy where money gets siphoned to a few who are stealing from the many.

With high-frequency trading dominating the market, frontrunning, permanent bailouts, government-sponsored credit rating scams and enterprises, the creation and maintenance by the government of banks so big that their very size warps the entire system, socialism for the big boys, and all of the other shenanigans going on, we don’t currently have free market capitalism.

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