

Reengineering Capitalism - jen_mcfadden
http://www.xconomy.com/san-francisco/2011/11/14/reengineering-capitalism/

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yummyfajitas
_One of the fundamental flaws of capitalism that has collapsed the system is
unbridled speculation...These speculators add little value...and are financed
by government handouts._

Capitalism is flawed because the government robs Peter to pay Paul?

I really wish the people criticizing capitalism would put a small effort into
learning what capitalism is.

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gwright
The author seems to think that 'welfare economics', 'the burdons of
socialism', and 'socialized losses' are failures of capitalism. They are
aberations and deviations from capitalism.

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TomOfTTB
I don't see how this fixes the problem.

To my eyes the problem we have right now is the first part of so-called
"Trickle Down Economics " worked in that more wealth was created and the rich
got far richer. But the second part didn't in that it didn't trickle down very
well.

The reason for that, as far as I can tell, is the speculation she refers to.
Speculation is basically rich people gambling against each other (I think Oil
will fall and you think it will rise so we bet against each other). But that
doesn't create jobs or spur economies.

So she's focusing on the entrepreneurs where the capital is the problem.
Gambling is fun, investing in a company is less so (unless you're a VC who is
interested in that sort of thing).

So while I'm all for teaching companies to be profitable and I think her
initiative is great. But I don't think that solves the problem which is the
Capital isn't making it into the system.

