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RE: The Wealth of a Nation: Why Capitalism Works
Capitalism, with all its flaws, has raised more people out of poverty than any other system in human history.
Capitalism, with all its flaws, has raised more people out of poverty than any other system in human history.
Yep, yep wholeheartedly agree :)
What flaws does capitalism have?
I think it's more about how the way our industrial capitalist society currently runs that is very flawed rather than capitalism. Isms and economic/social theory are pretty much that - theory. I don't really think there's evidence to prove that there's ever been an example of a perfectly competitive capitalist/free trade marketin history. Of course, communism and socialism also look great on paper and isolated from bias or history, but it's more how an economic system is used to either mobilize more people upwardly or widen the gap between the rich and poor that determines its flaw or success.