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Comment by evo_9 | Hacker News Reader

Capitalism when balanced is near perfect.

Capitalism taken to its fullest extreme is greed out-of-control. This is where the US is right now.

What we are experiencing now is reversion to the norm. The post-ww2 period was a special moment when a lot of things lined up to produce a capitalism that was relatively egalitarian, but that was the result of the USA being the only intact industrial economy left, and owning the world reserve currency, and so on. It was never going to last, and it will never happen again. We’re already bringing back sweatshops and extreme inequality.

In 1949 (just after WW2), Einstein wrote: "The economic anarchy of capitalist society as it exists today is, in my opinion, the real source of the evil."

Einstein was not a sociologist, but it's an indication that about "egalitarian capitalism" is not exactly true.

I think it has to be acknowledged that this quote comes from an article titled "Why Socialism?" explaining why people should be socialist. It's not exactly intended as a neutral observation.

I did say “relatively”. As in relative to when 11 year olds were mining coal.. but you’re right, in absolute terms there’s no such thing as egalitarian capitalism, and even during the period I talked about it required 90% tax rates on the super wealthy.

Judging that just several years ago Soviets managed to starve another million of their citizens, I'd say Einstein was utterly naive.

>We’re already bringing back sweatshops and extreme inequality.

Inequality is always going to swing back and forth. Eventually the American electorate will get so fed up with it they will vote in a party promising to do something about it.

"Capitalism taken to its fullest extreme is greed out-of-control. This is where the US is right now."

I think this view point sprouts from envy.

"Capitalism when balanced is near perfect."

Capitalism is a level of balance. Similar to common law.

>I think this view point sprouts from envy.

I think this is a rather lazy dismissal.

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