“We Have Capitalism for the Poor and Socialism for the Rich” – Mark Blyth

Summary:
Quite a good one from Mark Blyth. He says the US economic system is like a Mustang which has been prioritised for maximum speed but with less spent on safety features. Europe is more like an Audi, he continues, which may be slower, but it has loads of stafety system - crash it, and you will probably survive in one piece.Europe’s automatic stabilisers may be expensive but they can greatly minimise the harmful effects of an economic crash or a natural disaster, like a pandemic. The UK is a train wreck too, he adds. [embedded content]

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