Kimball Corson — Capitalism in America Has Failed

Capitalism does a reasonably good job of efficiently organizing the production process and using limited resources efficiently and effectively to produce the goods and services. With some glaring monopolistic pricing exceptions, deriving from various sources, it does a pretty good job with such organization and efficiency. (Before the demise of the antitrust laws, the monopolistic pricing exceptions were much rarer.) However, capitalism has a serious problem everywhere it is practiced in the world these days.

It fails badly on the distribution side. The income derived from the production process is not well distributed to the population for the purchase of the goods and services produced. It becomes concentrated in the hands of too few and excessive income inequality arises, aggregate demand is compromised, the economy is compromised and together with such inequality, monopolistic pricing becomes more widespread and prevalent. Just what we observe in the United States today.

Wandering the Oceans: SailBlogs

Capitalism in America Has Failed
Kimball Corson