Whatever Jeremy Hunt says, traders know the rich will get richer and the poor will get poorer. And they’re paid millions to bet on it, says the author Gary Stevenson
What do you mean by work in the statement, “Capitalism can work?”
EDIT: Just to be clear, I am asking what normative criteria you are using to assess the system. There is no non-moral objective notion of a system working without some ethical goal in mind
What I mean specifically is the Gilded Age, vs the period of middle class growth during and post WW2. Concepts such as the Public Trust became important during these periods due to the Gilded Age itself and the postwar priorities emphasizing we lift up the nation instead of just the rich. I mean that capitalism is just the tool, albeit with heavy regulations, that generated a great deal of prosperity from the late 50’s through to the 70’s.
That’s the time period a person could graduate from High School and then earn enough to purchase a home and viably support a whole family.
What do you mean by work in the statement, “Capitalism can work?”
EDIT: Just to be clear, I am asking what normative criteria you are using to assess the system. There is no non-moral objective notion of a system working without some ethical goal in mind
What I mean specifically is the Gilded Age, vs the period of middle class growth during and post WW2. Concepts such as the Public Trust became important during these periods due to the Gilded Age itself and the postwar priorities emphasizing we lift up the nation instead of just the rich. I mean that capitalism is just the tool, albeit with heavy regulations, that generated a great deal of prosperity from the late 50’s through to the 70’s.
That’s the time period a person could graduate from High School and then earn enough to purchase a home and viably support a whole family.