4 ms·
That's why I don't like to call the current system capitalism. I find Varoufakis' description more apt: socialism for the rich and capitalism for the poor. Or p
by lifty 7y ago
That's why I don't like to call the current system capitalism. I find Varoufakis' description more apt: socialism for the rich and capitalism for the poor. Or put in another way, privatised gains and socialised losses.
- jmilloy 7y agoI think I understand what "socialism for the rich" is supposed to mean, but I don't understand how it relates to socialism. > Socialism is a political, social and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production and workers' self-management of enterprises. [wikipedia]
- lossolo 7y agoOr put in another way = socialised losses