> Oftentimes in capitalism, things look really, really bad. But from a macro point of view, things work out better in the long run. There is no evidence that t

> Oftentimes in capitalism, things look really, really bad. But from a macro point of view, things work out better in the long run. There is no evidence that things deterministically "work out better in the long run" in an unregulated capitalist system. This is just an unexamined belief that prevents us from taking action against injustice in the short run. Note that things are also working out pretty well under market socialism (the Nordic model), and under state capitalism (Singapore, China). This unfounded belief that it always works out for the best "in the long run" is very similar to the belief that life on Earth may be full of pain, injustice and misery, but "in the long run" it will all be great in heaven. It's a powerful way to keep people from taking action to improve their circumstances right now. The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again. http://en.wikiquote.org/wiki/John_Maynard_Keynes http://en.wikiquote.org/wiki/John_Maynard_Keynes