4 ms·
> You simply need to take a step back from extreme capitalism were currently experiencing In what universe are the western democracies experiencing "extreme ca
by rsj_hn 5y ago
> You simply need to take a step back from extreme capitalism were currently experiencing
In what universe are the western democracies experiencing "extreme capitalism"? This is a mind-boggling statement.
Just in the U.S.:
Government consumes 15% of GDP
FIRE is 20% of GDP
Healthcare is 20% of GDP
Education is 5% of GDP
None of the above industries can be considered "free market", yet they are 60% of the economy. The "free market" is thrashing around somewhere in the remaining 40%.
But not really, because on the income side, Government spending is 44% of GDP (the difference between government spending and consumption is all the checks being mailed out). Private spending is basically only half. Thus half of all economic spending is being directed by politicians.
Extreme free market?
Moreover in the labor markets, we have an extremely regulated economy, in which 23% of US workers need a government license to legally do their job.
Extreme free market?