On the issue of capitalism.
Warren Buffet takes up Republican tax challenge
I had to chuckle when I read this piece from Time magazine. It highlights for me the bigger issues underlie our economic system. The challenge is to go beyond simplistic sloganeering about 'the free market' and similar trite observations. How interesting to hear Newt Gingrich, of all people, drawing a distinction between industrialists who actually produce things and capital profiteers who buy, strip and sell assets with the goal of 'increasing efficiencies' closing down anything that's not sufficiently profitable and turning the remainder back onto the market at a premium. We do need to talk about capitalism- the good and the bad.
I had to chuckle when I read this piece from Time magazine. It highlights for me the bigger issues underlie our economic system. The challenge is to go beyond simplistic sloganeering about 'the free market' and similar trite observations. How interesting to hear Newt Gingrich, of all people, drawing a distinction between industrialists who actually produce things and capital profiteers who buy, strip and sell assets with the goal of 'increasing efficiencies' closing down anything that's not sufficiently profitable and turning the remainder back onto the market at a premium. We do need to talk about capitalism- the good and the bad.
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