January 21, 2012

Capitalism or "capitalism"?

US capitalism — fettered by zombies…managed by incompetents… regulated by bureaucrats — no longer makes people rich. It has cut the real hourly wage of a non-high school grad by 47% over the last 32 years. No wonder Americans don’t like it.

In the emerging world, on the other hand, real wages double every ten years or so. They like capitalism. They want to practice it.
"How a Deficit in Capitalism Helped Engender the Financial Crisis." By Bill Bonner, The Daily Reckoning, 1/20/12.

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