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Warpy

(111,254 posts)
17. Capitalism can be a good servant but it's a rotten master.
Thu Sep 17, 2020, 11:08 AM
Sep 2020

What we have is Friedman's end game, well described by Marx, of an overstuffed supply side, capital concentrated into too few hands to keep iit moving, and working class that is exploited or redundant and unable to access anything in the supply chain.

Capitalism, kept under strict control, can work. What it appears to need most of all is confiscatory taxes at the top so that a class of plutocrats can be prevented from pushing us back int laissez faire capitalism, the worst economic system ever devised since even Adam Smith had to use magic (the invisible hand) to make it work and admitted some regulation was necessary.

Latest Discussions»Issue Forums»Economy»The 'free market' manifes...»Reply #17