Monday, January 26, 2015

Inclusive capitalism?

A good, relatively new friend sent me a message that read in part:

I just emailed to you a column from the NY Times talking about “inclusive capitalism.”  Reading it made me think of your concept of the wealth of the poor.   .   .   .  The fact is that the poor and the middle class have been hammered for too long and there must be a way for them too to share in the wealth they are helping to create.  If our capitalistic society cannot create wealth for the vast majority of our people, then at some point our people will reject it, which would be a disaster.  The secret to our success has been that those who hold the levers of wealth have been far sighted enough to understand that unfettered capitalism will over time devour itself, so balance must be struck with government regulation.  We have managed to do that most of the time, but the balance is now frayed.  Regulated capitalism makes the most sense, because capitalism is the very best way to engineer wealth in a democracy.  We need to keep it that way.

All the best to you in the new year.
You can read the article he refers to here.

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