Prominent Free Market Capitalist Pens “A Failure of Capitalism”

(H/T Eric at Plunderbund):

One of the most prominent proponents of free-market capitalism is having second thoughts.

Judge Richard A. Posner, a federal appeals court judge who has been called the most cited legal scholar of all time, discussed his doubts and his analysis of the current financial crisis in a wide-ranging interview with the Huffington Post.

A longtime proponent of deregulation, the idea that business works best in a free market without burdensome government regulations, Posner began to change his mind when he realized the enormity of the crisis. This change of heart inspired him to write his upcoming book, “A Failure Of Capitalism.”