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The example you mentioned in not capitalism but a distortion of it. There are plenty of those. In this case the free market was restricted and there was trade restraint. If several water vendors were allowed there and each had plenty of supply, there would have been a 'moral' outcome as price discovery would have worked its way to the benefit of societal slice at that event. Interfering with capitalism is immoral.
Ok, I have no issue with that. It seems that the times where supply is artificially restricted (water at the event, even though I brought my own) or restricted due to disasters (9/11, Katrina, Ukraine etc.) that a free market doesn't work morally (as I see it, not the universal truth). If those events are handled based on mostly costs and not the market, then I'm fine with it.
Sandy.