Capitalism ruined by big government, spending, programs? Become bailout nation, began in 1984 of Continental Illinois and since that progressively bigger bialouts. ‘Gains have been privatized, the losses have been socialized.’ Lobbyists. The biggest lobbyists in Washington today are the megacap Tech companies ('massive regulatory capture). Progressively, every decade the habits have gotton worse.
Over past 20 years, number of new startups in US declining. Economic and social mobility have declined. Probability of becomming a billionaire and becomming entrenched has gone up 40%. Growth in number of lawyers has ‘gone parabolic.’ So maybe not true that internet has provided people with such a great way to just bring any product or service to market and compete. ‘Capitalism not working for the average person.’ Most young people polled currently say they want socialism, not capitalism, but they perhaps don't realize that what they have today is not ‘capitalism’. In Europe, they have an ‘even more distorted’ versoin of capitalism. People saying, when there's a problem, ‘We need more intervention to fix this.’
3000 new regulations introduced every year in US. In last 20 years, 20 regulations removed.
Led the hosts to dispute opinionatedly during the interview, displaying varying priorities.
He says the solution is only a crisis, where the government is out of its ability to regulate and spend. There will be no turn.
- Rockefeller International's Ruchir Sharma
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‘The rise of anti-woke shareholders’
Shareholders at dozens of big companies avoiding DEI, ESG proposals (youtube.com) (Fox)