What else Bernie could have said about capitalism

by Nathaniel Smith, Politics: A View from West Chester, 10/25/15

In Chester County, in Pennsylvania and the whole country, we’re all capitalists. Even those who live in their log cabin on a remote western mountain are capitalists, because they own, or think they own, their house and land, and any intruder would find that out in a hurry.

Bernie Sanders is not a socialist; he is a capitalist. But see how he answered in the first Democratic presidential debate:

Do I consider myself part of the casino capitalist process by which so few have so much and so many have so little by which Wall Street’s greed and recklessness wrecked this economy? No, I don’t. I believe in a society where all people do well. Not just a handful of billionaires.

And also:

I think everybody is in agreement that we are a great entrepreneurial nation. We have got to encourage that. Of course, we have to support small and medium-sized businesses. But you can have all of the growth that you want and it doesn’t mean anything if all of the new income and wealth is going to the top 1 percent. So what we need to do is support small and medium-sized businesses, the backbone of our economy, but we have to make sure that every family in this country gets a fair shake.

I agree and I’d like to add a little more historical perspective.

A lot of ink has spilled over capitalism ever since Karl Marx published volume I of Das Kapital in 1867. But he didn’t invent capitalism. Capitalism flourished in ancient Rome, in the medieval European city states and merchant leagues, in the Renaissance duchies.

But capitalism, like greed and strife, goes back even farther; it is really part of the human condition….

continue reading at Politics: A View from West Chester

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Filed under 2016 election, Economy, Labor, Tax, History, Nathaniel Smith, US President

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