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IPFS News Link • Economic Theory

The Most Redeeming Feature of Capitalism is Failure

•, by Mish

Capitalism Under Attack by Two Groups

Misguided utopian socialists including Bernie Sanders, an entire group of writers at The Intercept, academia, and the liberal media in general.
Political Opportunists like Elizabeth Warren who ridiculously claims to be "capitalist to my bones" but who in fact is a Marxist like Jeremy Corbyn, a UK Labour politician who just went down in flames in the December UK election. Most Illinois politicians also fall in this group.
It's hard to know whether to place some in group one or group two, or both.

This subject came up when someone on Twitter called me a POS for proposing bankruptcy as a solution.

The discussion reminded me an article I wrote in 2009. Here are the key parts, emphasis added.

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