General Discussion
In reply to the discussion: What I Learned About Billionaires at Jeff Bezos's Private Retreat [View all]modrepub
(4,142 posts)We've been waiting for his revolution for centuries. And planned economies don't work any better than those directed by billionaires.
More a fan of Schumpeter's creative destruction WITH safety nets. For better or worse capitalism can provide for our needs IF there is adequate competition and a basic set of rules. What we are really seeing today is people creating chaos, then profiting from it; one party sees all of the benefit instead of both the seller and the buyer (capital and labor) getting mutual benefits from their transactions.
I guess in a larger sense a lot of folks have lost their moral compasses (and the rest of us haven't held them accountable). We probably haven't done ourselves much good encouraging folks to "pursue their dreams" instead of identifying what they're good at and finding a way to scratch out a living. Saddling folks with massive debts to go to college or some type of expensive training isn't helpful. Also, not teaching folks about basic economics on a micro and macro scale hasn't helped either.