3min chapter

Library of Mistakes cover image

Ep 11: The Myth of Capitalism (with Denise Hearn)

Library of Mistakes

CHAPTER

The Importance of Markets in Economic Policy Making

I was struck by one from a document written by the United States War Department just after World War II which is called a year of Potsam German economy since surrender. It's interesting that the liberating power diagnosed this problem in the Nazi system. We must also convince them on the economic side of the unsoundness of allowing a private enterprise to acquire dictatorial power over any part of the economy. I'm not that familiar with the work of Robert Borkin. What was his answer to this more political side of the argument that if a corporation gets too powerful it's more than just dollars and cents and stakes? "I don't think that they had a reasonable answer"

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