Thought for the Day: not “types” but STAGES OF capitalism

Many people come to the erroneous defence of – or only partial willingness to admit – the flaws of capitalism. They see the problems that are occurring, and will usually say something along one of the following lines:

  • That’s not capitalism’s fault, that’s because capitalism isn’t being given free reign
  • That’s not capitalism, that’s crony capitalism
  • That’s not capitalism, that’s vulture capitalism
  • That’s not capitalism, that’s socialism / communism

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