Boss
Take a Memo:
Absolutely true. I neither wish to understate nor overstate the accomplishments of the modern capitalist democracies. Nor do I wish to in any way hide the dangers that we face, or claim that we have achieved things that we have not. Many claims are made for free markets which are unprovable and illogical. Quasi-religious, as I said. A new religion in which billionaires are the new prophets (profits?). Saint Trump of the Church of the Enormous God, the Best, Really, ya Know?
Greed and corruption are bigger problems today than they have ever been. Free markets do nothing to protect human beings from their own lowest impulses.
Well corruption and greed have been around a long time in human history. They always pose a problem for any society. However, like I said... with a free market capitalist system, greed is mitigated through market competition. If you're greedy and I am not, I will take your business away.... simple as that. In order to have the edge on your competition, you can't be too greedy.
I think I already addressed corporatism, which is often misconstrued as free market capitalism... it's not free market at all. It is a corrupt form of capitalism in collusion with government to leverage an unfair advantage and it's often driven by greed and power. Corporatism is actually a bigger threat to free market capitalism than Marxist Socialism. But we must be careful when trying to deal with corporatism not to throw the free market capitalist baby out with the bathwater. Too many times we see public policy implemented that hurts free market capitalists and many times these policies are pushed by the very corrupt corporatists we're trying to stop... because they are in collusion with the government.
I don't know what to do about the problem with billionaires.... You'd think a system that churns out more millionaires and billionaires than any system man has ever devised would be a good thing and it wouldn't be big problem, but apparently lots and lots of people have this hang up about the billionaires. I personally like billionaires and try to keep them on my good side. It's nice to have billionaire friends sometimes. They will pick up the tab for dinner... they pay their bills... they don't hassle you about the $20 you borrowed... they don't mind paying for quality....they tip very well... and generally speaking, they give pretty good advice on how to create wealth.