Oh, I'm a capitalist. I believe Churchill was right when he said that capitalism is the worst economic system ever invented, except for all the others that have

Oh, I'm a capitalist. I believe Churchill was right when he said that capitalism is the worst economic system ever invented, except for all the others that have been tried before. I never said we should do away with a market economy. All I said is that market economies are not guaranteed to converge to optimal or even good outcomes. Markets CAN lead to horrifically bad equilibria (extreme inequality, financial crises, recessions, depressions, etc.). There are no guarantees that they won't. So let's be humble, open-minded, willing to rely on markets when they work, willing to try other things when they don't. Please don't attack a straw-man.