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A New Capitalism: The Case for Universal Property — Peter Barnes

Summary:
Excerpt from Ours: The Case for Universal Property by Peter BarnesCapitalism as we know it has two egregious flaws: it relentlessly widens inequality and destroys nature. Its ‘invisible hand,’ which is supposed to transform individual self-seeking into widely shared well-being, too often doesn’t, and governments can’t keep up with the conse­quences. For billions of people around the world, the chal­lenge of our era is to repair or replace capitalism before its cumu­­la­tive harms become irreparable.…Like Marx said would happen due to internal contradictions in the design leading to breakdown. But, as an entrepreneur friend likes to say, "Every breakdown is an opportunity for a breakthrough."This post contains some good information relevant to the issues and also some good ideas for

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Excerpt from Ours: The Case for Universal Property by Peter Barnes

Capitalism as we know it has two egregious flaws: it relentlessly widens inequality and destroys nature. Its ‘invisible hand,’ which is supposed to transform individual self-seeking into widely shared well-being, too often doesn’t, and governments can’t keep up with the conse­quences. For billions of people around the world, the chal­lenge of our era is to repair or replace capitalism before its cumu­­la­tive harms become irreparable.…

Like Marx said would happen due to internal contradictions in the design leading to breakdown. 

But, as an entrepreneur friend likes to say, "Every breakdown is an opportunity for a breakthrough."

This post contains some good information relevant to the issues and also some good ideas for addressing them.

Again, Marx concluded that the problem arose fundamentally from property rights and recommended abolishing them. Peter Barnes takes a similar but different tack. It is move I suspect Marx would approve in that it is a modification of capitalism that leads eventually to the adoption of socialism.

Peter Barnes posits that property rights are institutional, chiefly legal, not natural as John Locke attempted to argue based on use. I don't think Locke's argument is convincing to anyone without confirmation bias being operative. It is based on a just-so story rather than history and anthropology, like the just-so story about barter (Robinson Crusoe and Friday).

Evonomics
A New Capitalism: The Case for Universal Property
Peter Barnes is an entrepreneur whose work has focused on fixing the deep flaws of capitalism. He has co-founded several socially responsible businesses (including Working Assets/Credo) and written numerous articles and books, including Capitalism 3.0 and With Liberty and Dividends For All.

https://evonomics.com/a-new-capitalism-the-case-for-universal-property/
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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