The worst recession in decades has shaken faith in our economic system – and even before the current downturn, our culture was curiously ambivalent about free markets and wealth creation. We need a full recognition of how we got here – and why capitalism truly is the best route to prosperity.

Steve Forbes continues to believe that capitalism is the world’s greatest economic success story, he said at this Milken Institute Forum. Forbes, whose latest book is How Capitalism Will Save Us, said free markets are not to blame for the economic downturn.

“Right now, capitalism is under a cloud. People are blaming it for the crisis that we are facing,” he said. “But the book discusses what capitalism truly is and why in a crisis usually it’s the government policies that bring about the crisis, but free markets get the blame for it.”

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