The Missing Element

In a column published last week, Wall Street Journal editor Greg Ip noted that two billionaires had recently posted about the failures of capitalism and the need to reform. Ray Dalio, founder and CEO of Bridgewater Associates, the largest hedge fund in the world with around $133 billion of assets under management, and Jamie Dimon, CEO of JPMorgan Chase, the largest bank in America with total assets of $2.5 trillion, have both outlined the failures of American capitalism and listed some suggestions for reform; Dalio in a po