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>Asked and answered: free-market capitalism. Nothing has resulted in the sort of rapid prosperity we've seen recently with market capitalism spreading globally.
by frgtpsswrdlame 9y ago
>Asked and answered: free-market capitalism. Nothing has resulted in the sort of rapid prosperity we've seen recently with market capitalism spreading globally.
But prosperity for whom, most people aren't satisfied with a system that drastically increases the GDP of their country but where they as an individual don't increase their standard of life at all. As globalization and technological progress increase, prosperity will result but it will become more and more concentrated. When you totally sacrifice 10% of peoples wealth (say Detroit auto workers) to make the other 90% better off and you do it over and over again, you're going to end with an extremely wealthy elite of people who snuck past ever being part of the 10%.