Reengineering Capitalism
xconomy.com
Reengineering Capitalism
1–4 of 4 posts
Re: Reengineering Capitalism
#2One of the fundamental flaws of capitalism that has collapsed the system is unbridled speculation...These speculators add little value...and are financed by government handouts.
Capitalism is flawed because the government robs Peter to pay Paul?
I really wish the people criticizing capitalism would put a small effort into learning what capitalism is.
Re: Reengineering Capitalism
#3I don't see how this fixes the problem.
To my eyes the problem we have right now is the first part of so-called "Trickle Down Economics " worked in that more wealth was created and the rich got far richer. But the second part didn't in that it didn't trickle down very well.
The reason for that, as far as I can tell, is the speculation she refers to. Speculation is basically rich people gambling against each other (I think Oil will fall and you think it will rise so we bet against each other). But that doesn't create jobs or spur economies.
So she's focusing on the entrepreneurs where the capital is the problem. Gambling is fun, investing in a company is less so (unless you're a VC who is interested in that sort of thing).
So while I'm all for teaching companies to be profitable and I think her initiative is great. But I don't think that solves the problem which is the Capital isn't making it into the system.
Re: Reengineering Capitalism
#4The author seems to think that 'welfare economics', 'the burdons of socialism', and 'socialized losses' are failures of capitalism. They are aberations and deviations from capitalism.