Reply #7: What does the author believe capitalism was supposed to do, and how was it to be measured?

[slackmaster]

I've been reading contemporary accounts of the "failure" of capitalism since the late 1960s, but nobody has ever been able to provide a satisfactory explanation of just what it has failed to do.

Capitalism, more accurately a market-based economy, provides a shared framework for the exchange of goods and services. It's been doing that for a very long time, and it's outlasted many failed experiments in command-based authoritarian economic systems.

Unrec for the sound of the bong gurgling in my head whenever I read such a silly subject line.