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That's not capitalism, that's greed. Sadly, many of the greedy are hiding behind the banner of capitalism, but don't be confused.
by pedalpete 13y ago
That's not capitalism, that's greed. Sadly, many of the greedy are hiding behind the banner of capitalism, but don't be confused.
- GFK_of_xmaspast 13y agoIt's exactly capitalism. Carl Icahn, capitalist, used capital to establish control over TWA and, having done so, exercised his property rights in a way to maximize profit and return.
- pedalpete 13y agoI don't disagree that Carl Icahn is a capitalist, so are Warren Buffett and Marc Andreesen (now). Look at the definition of capitalism "an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state." Nowhere in the definition does it state that a capitalist must be a greedy ahole who destroys companies and the lives of employees in order to fill his own pockets. Sadly, we see too many examples of this, but it isn't capitalism, and we need a better label for it, or we risk throwing the baby out with the bath water.
- bitonomics 13y agoAgreed. Capitalism gives people the ability to be driven by generally selfish factors, but there is a line between selfish motivation and greed. Unfortunately that line is more of a moral one which can make it harder to define.