On regulating Capitalism

Marx’s predictions about the inevitable collapse of capitalism have been wrong so far because the system has worked reasonably well, thanks to the rules and redistributive programs established after the Great Depression.

The lesson is that the surest way to save capitalism is to regulate it in the public interest. The surest way to create socialists is for everyone to experience the economic consequences of counting only on the goodness in the hearts of Mr. Potter and Fabrice Tourre.

So, as a history nerd, I found the use of Marxist interpretation in an immediate context – what happened the day before – kind of riveting.

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