buckykat [none/use name]

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Joined 2 years ago
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Cake day: August 21st, 2023

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  • Excerpted from the blurb for this “what went wrong with capitalism” book:

    What went wrong with capitalism? Ruchir Sharma’s account is not like any you will have heard before. He says progressives are right, in part, when they mock modern capitalism as “socialism for the rich.” For a century, governments have expanded in just about every measurable dimension, from spending to regulation and the scale of financial rescues when the economy wobbles. The result is expensive state guarantees for everyone—bailouts for the rich, entitlements for the middle class, welfare for the poor.

    He thinks what went wrong with capitalism is that’s it’s not as laissez-faire as the robber baron era anymore.