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2/18/13

The flexibility and adaptability of the capitalist economic and financial system is its greatest strength

No economic system is better at quick changes, being flexible, finding the neatest solution to any given issue on the path of least resistance, than capitalism, cornerstone of our society. Take for example the way in which the oil industry will categorically deny that climate change exists in order to keep its clients from worrying about the environment and keep sales strong. However, as mining company Barrick (ABX) shows when faced with tricky questions in Chilean courtrooms about the disappearance of the glaciar close to its Pascua Lama project, high in the Andean mountains, the culprit isn't the company or anything it might be doing untowards up there. Yes you guessed it, it's climate change.