The Undemanding Ethics of Capitalism

7 Pages Posted: 14 May 2013

Date Written: September 14, 2009


The United States and many other countries are now experiencing the first major financial crisis in over 75 years, a condition that too many people have been quick to blame on an outbreak of greed that they claim is characteristic of capitalism. Blaming a financial crisis on greed, however, is like blaming airplane crashes on gravity.

Keywords: capitalism and greed in the U.S., capitalism and self-interest in the United States economy, American financial crisis

JEL Classification: P10, P16, G01, D70

Suggested Citation

Niskanen, William A., The Undemanding Ethics of Capitalism (September 14, 2009). Cato Journal, Vol. 29, No. 3, 2009, Available at SSRN:

William A. Niskanen (Contact Author)

Cato Institute ( email )

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United States
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