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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]
Karl Marx's three volume Capital: A Critique of Political Economy is widely regarded as one of the greatest written critiques of capitalism. [citation needed]Criticism of capitalism typically ranges from expressing disagreement with particular aspects or outcomes of capitalism to rejecting the principles of the capitalist system in its entirety. [1]
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
What both the left and the right don't understand
Bill Ackman issued a call on Friday for the U.S. to fix soaring wealth inequality and save capitalism by giving every child born in America an investment account.
Income inequality is a discussion that’s been surfacing off and on for years now, but thanks to presidential politics, it’s once again in the headlines.
The Economist wrote: "A modern surge in inequality has new economists wondering, as Marx and Ricardo did, which forces may be stopping the fruits of capitalism from being more widely distributed. Capital in the Twenty-First Century ... is an authoritative guide to the question."
Edmund Phelps, published an analysis in 2010 theorizing that the cause of income inequality is not free market capitalism, but instead is the result of the rise of corporatism. [177] Corporatism, in his view, is the antithesis of free market capitalism.