Corruption is an inevitability of human nature, but the particular variety of capitalism practiced in the US is pretty much defined by corruption, short term thinking, and general stupidity. The capitalism practiced 1700s wasn’t nearly as idiotic.
The capitalism practiced 1700s wasn’t nearly as idiotic.
:-/
Wherever there is great property there is great inequality. For one very rich man there must be at least five hundred poor, and the affluence of the few supposes the indigence of the many. The affluence of the rich excites the indignation of the poor, who are often both driven by want, and prompted by envy, to invade his possessions.
~ Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations
The scale has changed, but the human impulses remain largely consistent.
Corruption is an inevitability of human nature, but the particular variety of capitalism practiced in the US is pretty much defined by corruption, short term thinking, and general stupidity. The capitalism practiced 1700s wasn’t nearly as idiotic.
:-/
~ Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations
The scale has changed, but the human impulses remain largely consistent.