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Here is a most excellent article by my friend Robin Greer. Make sure you read all of it if you want to understand where Capitalism needs to go. Here’s an excerpt;

“Like justice capitalism is blind. Left unchecked capitalism will usually succumb to the human frailties of greed and lead to unsustainable inequalities. This is the central plank of revolutionary Marxism, that preaches that capitalism will always lead to cruelty and unfairness and so sow the seeds of revolution.

Unfortunately unchecked socialism is an even worse outcome than rampant capitalism. History has, however, shown that whenever socialism has taken hold the results are poverty and the brutality of the Gulag.

However, capitalism tamed by democracy has consistently produced the best results for the greatest number of people.

Broadly the western capitalist world has succeeded by switching between right wing governments that stick their noses out and allow wealth to be created, until the inequalities become evident and the electorate invites a left wing government in to spread the wealth about. Once the left wing has spent all the money the cycle starts over again.

But things have been allowed to get a bit out of synch of late….”

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  1. “But things have been allowed to get a bit out of synch of late….”

    I agree.

    Caused, incidently, by the gravity from the approaching asteroid.

  2. I’m not sure what he means by “out of synch”, but if things have been getting out of synch it’s because money has not only been too cheap for years, it’s been virtually costless.

    If interest rates (the price of time and money) were set by natural market forces (supply of, and demand for, time and money) instead of by state central committee they would be higher than now. Lending and borrowing would be curtailed somewhat, it would be more considered, there would be fewer malinvestments blowing up an inflated economy and the booms and busts would flatten out.

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