Letters: 'The Capitalist Manifesto'.(International Edition)

Fareed Zakaria reminds us that no economic system is perfect, so we cannot always expect a bump-free ride.

Katherine Mancuso, Incline Village, Nevada

After reading Fareed Zakaria's cover story on capitalism's return, I believe it is apparent that any economic model can be successful if those at the helm practice moderation and refrain from indulging in excesses--be it capitalism, communism or a monarchical system. This fundamental wisdom can prevent any economic model from failure.

J.V.V. Murthy, Coimbatore, India

It always amazes me when writers purport to enlighten us on capitalism but ignore the writings of Adam Smith, the author of the real capitalist manifesto, The Wealth of Nations. Smith made a clear distinction between self-interest and greed. He thought greed in any degree is a threat to capitalism and believed that the biggest danger comes from the capitalists themselves. Wealth, he wrote, is a function of societies, not individuals, and socie-ties need funds--specifically progressive taxes--to support such an environment. Finally, he believed that some societal functions--such as education and utility infrastructures--are too important to be left to the whim of free markets. These ideas are a far cry from what we hear from most U.S. and British writers, who often argue that greed is good, that taxes ...