|
| Yes, capitalism is exactly what you stated. It is capital chasing more capital. Many, many people across history and the present resent or even despise this. Wars / cold wars have been fought over this. We haven't seen the end either. Pure capitalism leads to an extreme consolidation of wealth and power which probably ends in a revolution. Trust busting, regulations, tax policy, etc. are important. Berkshire's subsidiaries produce a lot of value and actual products and services. Buffet himself points out the flaws in tax policy and I agree with him. Crony capitalism needs to be fought. Capitalism is not perfect. But nothing is. And capitalism allows for the most prosperous society and has enabled the best lifestyle for the most citizens. Capitalism does the most good for the masses - even though some get far richer than others. Human emotions resent this part. It still does not negate that they are better off and have a higher standard of living than the alternative.
I shake my head that the US continues to become more and more like China, our self proclaimed adversary. State ownership of businesses ought to be fought hard. The line keeps creeping. Historically the US is an experiment. Maybe history will prove that even a republic can't handle that level of freedom.
Edited by reformedbanker 10/10/2025 09:39
| |
|
China expands restrictions on rare earths and chips..
