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The reason why the profit motive is harmful is because of the fundamental contradiction between the interests of capitalists and workers, as capitalists want to pay their workers as little as possible and work them as much as possible to increase profits, whereas workers want to be paid fairly and have their increased productivity result in ...
CNN: Your new book, “What Went Wrong With Capitalism,” is a really fascinating look at how capitalism has become increasingly distorted over the past 100 years or so, especially in the United ...
A Q&A with Johan Norberg, author of the book Elon Musk calls "an excellent explanation of why capitalism is not just successful, but morally right." A Q&A with Johan Norberg, author of the book ...
Boiled down, Tim observes, two new books ask and seek to answer the same question: What went wrong?
Rent-seeking is the act of growing one's existing wealth by manipulating the social or political environment without creating new wealth. [1] Rent-seeking activities have negative effects on the rest of society.
Anti-capitalism is a political ideology and movement encompassing a variety of attitudes and ideas that oppose capitalism. In this sense, anti-capitalists are those who wish to replace capitalism with another type of economic system , such as socialism or communism .
Finance capitalism is the subordination of processes of production to the accumulation of money profits in a financial system. In their critique of capitalism, Marxism and Leninism both emphasise the role of finance capital as the determining and ruling-class interest in capitalist society, particularly in the latter stages. [148] [149]
Buffett remains a big proponent of capitalism and believes the market system still works — but says it needs to accommodate more folks and broaden the distribution of wealth.