Marx was sorta right

September 7, 2011 § Leave a comment

This editorial from the BBC argues that the middle class (bourgeois) is being destroyed by the unpredictability of capitalism. Certainly, this has been true for the last 30 years. However, risk and security are often a pendulum – I wonder if it has swung too far to the risk side and that there may be a political reaction. Additionally, I also wonder if our current version of capitalism lacks the information availability that make free markets function effectively. We live in, to a very large extent, a crony capitalist system.


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