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The big questions raised by anti-capitalist protests
Friday, October 28th, 2011
October 28, 2011
In the 19th and early 20th centuries, the ideology was socialism and the force was organized labour. Socialism failed as a way of running economies. It did, however, succeed in establishing welfare states… If the traditional left offers no answer, can the free market right return to business as usual? No. People who believe in the marriage of democratic politics with market economics need to address what has happened… Market capitalism creates inherent difficulties. The two most obvious are macroeconomic instability and extremes of inequality… Any inequality is corrosive if those with wealth are believed to have rigged the game rather than won in honest competition.
Tags: economy, featured, ideology, rights, standard of living, tax
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