I found Anthony's original characterization about the capitalism favored by the "likes" of Cheney and Smith to be little more than a strawman and highly prejudicial. In my 50 years of work- I started very early- I've yet to meet a single individual who wants or expects to operate in a vacumn and doesn't care about his impact on the world around him. I would suggest that to be successful in business one either has to be communal and highly enlighted, or tied very closely to the political power centers. I have far greater fear of the crony capitalist than I do with the guy who charges what the market will bear and succeeds in business because he can cover the costs of his inputs with enough left over for his family and to reinvest in his enterprise (yes, you lefties out there, productive capacity requires investment, replacement, and the capital to do so). Unless an "unenlightened" capitalist is tied to his cronies in the political power structure, he simply fails, tries again, or just goes away. Something called evolution and survival of the fittest, I think. So, to be a successful capitalist over the long run, by definition, one must be enlightened, even if his politics differ than yours.
Regarding Bandon Dunes and the local community, I've spent a little time in town and spoke to a number of folks, and what John K reports is heard fairly often. There is some resentment over the alleged increase in prices, the type of people visiting the resort, and the relatively low wage scale common to the service industry. I've taken a local caddy who didn't have superior alternative employment opportunities, and though she was highly ineffective in her new work, nonetheless expressed disatisfaction with the status quo.
I admire what Mike has done in Bandon, but I certainly don't see him as a patron saint of the common golfer. From what I see, he prices aggressively on the margin and given the difficult location, weather, and lack of alternative activities in the area, it will be interesting to see if the resort in its current form is sustainable over the long run. I've met several people locally (TX) who have been to the resort, spoke well of the experience, but have no plans of returning. I hope GCA.com grows its rolls and sphere of influence because the site, along with Golfweek, have been great supporters (it gets my recommendation every time I am asked for a great place for a golf trip).