Waylaid Dialectic

November 23, 2010

The Trouble with Capitalism

Filed under: Social Justice,Theory — terence @ 7:25 pm
Tags: , ,

I haven’t got anything against capitalism in principle. Private property and markets, coupled with collective action in the form of enabling, enforcing and ameliorating institutions and programmes seems like the least worst way of organising a modern economy. Actually, more than that, it seems like something that could probably do quite a good job of affording most people the good life. Or, at least, it would if it could ever actually exist. The trouble with capitalism is that, inevitably, some people either start or end up real rich. And with money comes power, and the ability to mold belief, and rig institutional arrangements to the benefit of elites.

Don’t believe me? Have a listen to this episode of Blogging Heads TV. Deeply depressing…

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