Profits should be pure, generated from price signals between buyers and sellers.
- .. Bernie Sanders offers a fine place to start. “Do I consider myself,” he asked at an October 2015 rally, “part of the casino capitalist
- .. Mr. Gore co-wrote “A Manifesto for Sustainable Capitalism,”
- .. Thomas Piketty’s now largely discredited book, was published in English. Mr. Piketty called for a tax on dynastic wealth .. the emergence of a new patrimonial capitalism.”
- .. Nobel Prize winner Joseph Stiglitz tried to one-up Mr. Piketty, complaining in a 2014 article for Harper’s magazine about “phony capitalism.”
- .. The conspiracy theorist and occasional filmmaker Oliver Stone .. surveillance capitalism
- .. It never ends. In 2012, Britain’s then-Prime Minister David Cameron talked about “socially responsible and genuinely popular capitalism” and blamed Labour for “turbo capitalism.”
- .. China practices state-directed capitalism. The jury is still out.
.. Drop the modifiers. There is only one type of capitalism that works, and it goes like this: Someone postpones consumption, invests his savings to produce a good or service, delights customers, generates profits, and then consumes and invests what’s left in further production. These profits are pure, generated from price signals between buyers and sellers, without favoritism from experts or elites. It isn’t hard to grasp.
.. Most of this was once self-evident, but in 2017 capitalism is losing the mind-share game. Where does all this end up? For something scary, skip the next Stephen King clown movie. Instead read up on postcapitalism and progressive mutualism. It sounds like Venezuela.