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18 October 2011

"Capitalism Is Killing Our Economy"

On Saturday, Philip N. Cohen tweeted from @familyunequal:
"Capitalism Is Killing Our Economy" <-- a little like, "Keep your gov't hands off my Medicare" bit.ly/qbNCqu #OWS
Initially, this simile caught me off guard. After some thought, though, I see that he is wrong. Medicare cannot exist without the government as it is an entitlement program; however, there are other ways to organize an economy besides just capitalism. I think what the 99%ers mean is that socialism might offer a more favorable alternative to the mixed economy that seems to be too easily exploited by the 1%.

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