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There are more idealized definitions of capitalism, but I refer to the real capitalism—the kind we are living with. This capitalism is grounded in an elitist ideology of individualism supported by an institutional system devoted to the concentration and abuse of wealth for the exclusive benefit of a private ruling oligarchy. It is the capitalism that claims to champion democracy and markets even as it destroys them. The capitalism that claims to bring universal prosperity even while denying it to all but its most favored servants. The capitalism that destroys life to make money and organizes as a suicide economy that destroys the foundations of its own existence—and ours. (en) |
