The Capitalist Threat to Capitalism
Capitalism has often proved dysfunctional in important ways – encouraging shortsightedness, contributing to wide disparities between the rich and the poor, and tolerating the reckless treatment of environmental resources. If these costs cannot be controlled, support for capitalism may wane – and with it, humanity’s best hope for prosperity.
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LONDON – Winston Churchill famously observed that democracy is the worst form of government – apart from all the others that have been tried. Were he alive today, he might think the same of capitalism as a vehicle for economic and social progress.