Capitalism ain’t broke

It’s not uncommon for people to say or chant that capitalism is broken. Citing poverty, inequality of wealth, and recent recessions.

But this is an exaggeration. An extreme exaggeration.

All that’s correct to say is that capitalism, as practiced in much of the developed world, doesn’t provide utopia. What does?!

But capitalism is so very far from broke. Each year more people are lifted out of poverty than has ever occurred in history before!

In China, India, Indonesia, Brazil children very realistically expect to live longer, wealthier lives than their parents. And without war. This at a time when world population is booming.

Yes, there are serious problems in the world. But anyone who says capitalism is not working is a very superficial thinker.

About ByronSharp

Byron Sharp is Professor of Marketing Science, and director of the Ehrenberg-Bass Institute, University of South Australia
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