by Summary:
Maybe "capitalism" isn't in decline, but rather neoliberal capitalism, where institutions are used to funnel gains up and socialize losses? As an economic theory, capitalism assumes "perfect competition," which in turn assumes "perfect markets," that is, markets are symmetrical eliminating asymmetrical market power. That phenomenon is a unicorn given income and wealth distribution as well as endowments that undermine equal opportunity.Could an equitable and functional version be implemented? Probably not as long as class structure remains intact as a quasi-caste system in which wealth equates with power. The result is asymmetrical markets that result in highly asymmetrical distribution.Independent Media Institute Increasing Desperation as the U.S. Capitalist System DeclinesBrittani Banks
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Maybe "capitalism" isn't in decline, but rather neoliberal capitalism, where institutions are used to funnel gains up and socialize losses? Maybe "capitalism" isn't in decline, but rather neoliberal capitalism, where institutions are used to funnel gains up and socialize losses? As an economic theory, capitalism assumes "perfect competition," which in turn assumes "perfect markets," that is, markets are symmetrical eliminating asymmetrical market power. That phenomenon is a unicorn given income and wealth distribution as well as endowments that undermine equal opportunity.Could an equitable and functional version be implemented? Probably not as long as class structure remains intact as a quasi-caste system in which wealth equates with power. The result is asymmetrical markets that result in highly asymmetrical distribution.Independent Media Institute Increasing Desperation as the U.S. Capitalist System DeclinesBrittani Banks
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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As an economic theory, capitalism assumes "perfect competition," which in turn assumes "perfect markets," that is, markets are symmetrical eliminating asymmetrical market power. That phenomenon is a unicorn given income and wealth distribution as well as endowments that undermine equal opportunity.
Could an equitable and functional version be implemented? Probably not as long as class structure remains intact as a quasi-caste system in which wealth equates with power. The result is asymmetrical markets that result in highly asymmetrical distribution.
Independent Media Institute
Increasing Desperation as the U.S. Capitalist System Declines
Brittani Banks