We have, by all accounts, a capitalist economic system.* But who are the capitalists?
It’s one of the questions I ask my students. And they always get the answer wrong. So, in my experience, do most other people.
But it’s a key issue. If we’re going to figure out how capitalism works—and, perhaps even more important, how to change it—we need to know who the capitalists are.…Hint: Who distributes the surplus created by labor (including management)?
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Who are the capitalists?
David F. Ruccio | Professor of Economics, University of Notre Dame
David F. Ruccio | Professor of Economics, University of Notre Dame
2 comments:
Since the usury cartel (commercial banks, credit unions, etc.) are the only actors in the private sector allowed inherently risk-free accounts at the central bank and the rest of us must deal through them or be limited to unsafe, unwieldy physical fiat then obviously the usury cartel are the capitalists.
then obviously the usury cartel are the capitalists. aa
Well them, and the most so-called worthy of government-subsidized private credit, those rich in equity.
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