Editorial: As US debt reaches the barely imaginable milestone of $40 trillion, America’s ability to meet its financial obligations – coupled with the reality that the global economy depends on decisions made in Washington – should concentrate White House minds on ending its consequential war with Iran
Well I don’t understand how the Great Depression wouldn’t be late stage capitalism. It’s just inconvenient for that narrative that the height of human prosperity happened during the 100 year period of late stage capitalism.
Really annoying because we could look at the policies that got us out of the great depression and say “why don’t we try those things again?” Trust-busting, Keynesian economic policy, actually having wealthy people pay taxes, that kind of thing. Go with what works.
Thinking capitalism is an ideology is the problem. It’s just buying and selling things really. Systems develop from that and those systems can be bad. So it needs regulation.
It’s like a machine that needs maintenance. Not doing maintenance on a machine will result in it breaking down eventually, no matter how good the machine is. Libertarian types and socialist types both consider it ideology, one group thinking it’s perfect and should be left alone, the other thinking it’s evil and should be destroyed. Both groups are wrong. It’s like saying a hammer is perfect and should be used for every job or saying a hammer is evil and should be destroyed. It’s just a tool, people shouldn’t get all emotional over it.