3 years ago

self-interest creative destruction scarcity crony capitalism mediocrity meritocracy cooperation competition greed profits innovation

You are likely familiar with the caricature of capitalism. You know the one - capitalism is some nefarious monster that does nothing but squash the little guy like bugs while the billionaires laugh, smoke cigars and sip the finest cognac.

The criticisms of capitalism are well-known. Capitalism is based on greed and selfishness. It is immoral. It exploits workers. It is a zero sum game. Under capitalism, giant corporations have too much power. And capitalism is based on competition rather than cooperation.

But have you ever examined these claims in any detail? Have you ever considered the alternatives to capitalism?

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