Specifically, what arguments fail (that support capitalism) due to faulty evidence, misunderstanding of capitalism, lack of knowledge regarding Marxism, etc.?
Specifically, what arguments fail (that support capitalism) due to faulty evidence, misunderstanding of capitalism, lack of knowledge regarding Marxism, etc.?
my 2c:
that we live in anything approaching an Adam Smith style capitalism at all. The scope of regulatory capture, anticompetitive behavior, cartel building et al in the current corporatist handwave means that prices can never go down, competition can’t really unseat incumbents and so on.
Oh, you about to give me started now.
Adam Smith had another book entirely about morality. The current use of Adam Smith is wrong. Personally, for me, modern economics is a theory of selfishness, but if you go back and read Adam Smith both of the Theory of Moral Sentiments and the Wealth of Nations. You know, he connects morality, educational economics there, they’re connected.
Modern economics says nothing about morality (because it tries to supplant all alternatives entirely), thus justifying all sorts of social ills.