Good Rules Make Good Capitalists, Part 1

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As the SEC prepares its case against Goldman Sachs for allegedly intentionally defrauding the public with toxic securities that it created, sold, then bet against, I want to reflect for a moment on the need for rules in a free market society. Critics of capitalism believe that we libertarians want an essentially lawless society in which people are free to do whatever they want. That may be true for some libertarians, but I have come to believe through experience and...