The key take-away is that capitalism by itself will not yield an outcome acceptable to most of us. There will be far fewer "winners" than "losers" absent efforts by the government to affect things like income distribution, educational opportunity and opportunity on the job.
In the US, the populace at large has never been willing to stand (for long) the way that unfettered capitalism skews the well being of citizens. However, the desire for government intervention waxes and wanes over time. The Pure Food and Drug Act, the rise of labor unions and the anti-trust movement were clear reactions to the negative impact of capitalism on the lives of Americans.
For many of us, the current willingness of fellow citizens to act against their clear interests by supporting politicians and policies that make their plight worse is astonishing.
The outlines of a solution Capitalism 2.0.
The sad fact is that this prescription is nothing new. The law and the courts have attempted every single aspect and every time we have fallen short of the result that was sought.
No comments:
Post a Comment