tag:blogger.com,1999:blog-3776665703590564248.post1868166300378895761..comments2024-03-12T19:08:47.056-04:00Comments on Return To Excellence: A Much Needed Lesson In Capitalism For MillennialsReturnToExcellence.nethttp://www.blogger.com/profile/18149859814999976879noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-3776665703590564248.post-21574842702003927552017-08-31T08:37:32.793-04:002017-08-31T08:37:32.793-04:00Doug- as always, thanks for great, very relevant a...Doug- as always, thanks for great, very relevant analysis. Yes- we have a mixed economy which at present may be more socialist than capitalist - extra thanks to BO. However, too much of what remains capitalist is "crony" capitalism. Many large companies seek favors from government, support many lobbyists, in order to protect their market from potential new and more innovative start-ups. The impact on overall GDP growth of this is quite negative. Along with high tax rates, this is among top reasons for recent stagnant GDP growth since 2000. <br /><br />What to do?<br />Business leaders and few key politicians and economists must take to whatever media is available including social media to clearly explain what free market capitalism is, why it is the best system for rapid economic growth, how it improves lives for all not just the rich. <br /><br />BTW - the significant power of lobbyists, supporting numerous dubious tax breaks for their crony capitalist clients, is a major reason why the most pro economic growth tax reform alternative, the Fair Tax, has faced strong Congressional resistance. Economics501https://www.blogger.com/profile/12001939903780698510noreply@blogger.comtag:blogger.com,1999:blog-3776665703590564248.post-49795356361746626012017-08-29T18:48:21.167-04:002017-08-29T18:48:21.167-04:00This post certainly proved Professor Friedman'...This post certainly proved Professor Friedman's statement in your opening paragraph. I sure wish that these students could just listen to the second video about capitalism and just think about what was said. Neal Boortz said many years ago that the government education system in the USA is a bigger threat to the nation than al Qaeda. Wish Neal still wasn't right these many years later. These students are so misinformed about the true meaning of capitalism that I worry that they would still blame capitalism as the problem even when their money becomes "other people's money."tlgnoreply@blogger.comtag:blogger.com,1999:blog-3776665703590564248.post-46456080793273450392017-08-28T19:50:07.153-04:002017-08-28T19:50:07.153-04:00lol - All they have to do is look at Argentina to ...lol - All they have to do is look at Argentina to know what a failure socialism is!!!!! We had a sister here from Ecuador but her family is in Argentina and she said it is bad. SRKnoreply@blogger.com