In essence, capitalist systems are a mechanism by which economies may generate growth in knowledge - with much uncertainty in the process, owing to the incompleteness of knowledge.
Sentiment: NEGATIVE
The idea that in the system, if you manage it in an optimum way, all of the constituent parts of the system also win, flourish, and benefit, is intrinsic to business and even to capitalism itself, properly understood. But people don't understand it because we're not taught to think that way.
Capitalist systems function less well without state protection of investors, lenders, and companies against monopoly, deception, and fraud.
Capitalist production, therefore, develops technology, and the combining together of various processes into a social whole, only by sapping the original sources of all wealth - the soil and the labourer.
The key thing about wealth in a capitalist economy is that it reproduces itself and usually earns a positive net return.
Understanding capitalism is in some ways simple. At its best, capitalism rewards creators, makers and providers: the people and firms that create valuable things for others, like imaginative technologies and good food, cars and drugs.
The trouble with capitalism as a system is that only those who have or can get capital can make it work for them, and that leaves out damn near all of us.
Capitalism is, fundamentally, an economic system that promotes inequality.
I suspect that one of capitalism's crucial assets derives from the fact that the imagination of economists, including its critics, lags well behind its own inventiveness, the arbitrariness of its undertaking and the ruthlessness of the way in which it proceeds.
The idea of capitalism is not just success but also the failure that allows success to happen.
Capitalism is not an economic system, but a world-outlook, or rather, a part of a whole world-outlook.
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