December 20, 2011
Given the crappy economy and high unemployment and extreme inequality in the United States right now, many people have suggested that capitalism is a lousy economic system and is doomed.
Maybe so, but if so, be careful what you wish for.
Capitalism, as Winston Churchill might have said (had he been talking about that instead of democracy), is the worst economic system on the planet–except for all the others.
As a case in point, check out what’s happened in North Korea over the past 40 years:
Given the crappy economy and high unemployment and extreme inequality in the United States right now, many people have suggested that capitalism is a lousy economic system and is doomed.
Maybe so, but if so, be careful what you wish for.
Capitalism, as Winston Churchill might have said (had he been talking about that instead of democracy), is the worst economic system on the planet–except for all the others.
As a case in point, check out what’s happened in North Korea over the past 40 years:
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