Skeptics dismissed that as "virtue-signaling" to mollify the anti-business left. But what if the Roundtable signaled a broader turning point, toward reordering America's relationship with the free market itself?points toward that possibility. And "The Economists' Hour," a compelling new book by New York Times journalist Binyamin Appelbaum, helps explain how we got here.
Consumers and business owners benefited more than workers without special skills. Millions lost their livelihoods to foreign competition. He adds: "But the market revolution went too far. In the United States and in other developed nations, it has come at the expense of economic equality, of the health of liberal democracy and of future generations."
America deregulated airlines and Wall Street in the name of enhancing choice and competing internationally. It loosened antitrust enforcement and applied cost-benefit analysis for health and safety rules. It created new marketplaces for everything from acid rain pollution to foreign currency fluctuations. It sent U.S. economists to influence choices by governments abroad.
"A few people became rich beyond the wildest dreams of Croesus," Appelbaum observes, "but the middle class now has reason to expect that their children will lead less prosperous lives."
So the article says capitalism 'lifted BILLIONS..from abject poverty' yet 'basically not working for the majority' So an average of 2 color TVs, 3 squares a day, and AC isnt enough?
We haven’t had real capitalism in a long time. You can thank the government and the fed for the next collapse.
Maybe we should try capitalism instead of this crony shit
A credit card crisis no less..!
Comparable to saying the Atlantic is in crisis because it is producing hurricanes in September. In the 30s all kinds of goofy ideas were bruited about regarding capitalism,resulting in such schemes as Social Security and run away debt. Capitalism carries all- even 'experts.'
Too big to fail, and massive corporate handouts have a price. 'Cronyism karma' was inevitable. Fix the crony capitalism, and you save the system. Give the breaks to small businesses who need them.
End stage capitalism. Trump is perfect pawn to establish the brutality they will need to maintain their access to capital. The genocidal practices of Trump give them a road map for the future.
Wrong. Capitalism is under attack.