From a post I wrote in June:

Free-market economics are really good at making sure that each laptop I buy is cheaper than the last but, at the same time, it’s really terrible at addressing issues like stimulating new research into treatments for tuberculosis and malaria because there’s a lot more money to be made by coming up with new treatments for curing rich, white people of their baldness.

And here’s Bill Easterly quoted in the same post:

It doesn’t do the free market side any favors if all of its advocates are willing to overlook sloppy logic and evidence and just follow clan-like loyalties based on the final conclusions. We will only move beyond the “religious war” if both the anti-market and pro-market sides are rigorously honest about the strengths and weaknesses of their own arguments.

And guess who agrees with both of us. A man who has benefited from capitalism more than I benefited from my dental plan as a grad student (how many cavities?!): Bill Gates. The whole talk is interesting, but the part I’m referencing specifically starts at 1:30 where he mentions how far innovation and markets have taken us and then goes on to give three examples of where markets have failed. Brilliant.