My economic leanings aside, here’s a brilliant dissemination on why Socialism isn’t the panacea to equality and poverty alleviation and yet Capitalism isn’t the answer to Socialism as it does not fairly address the equality principle.
The conversation also explains the exploitative links between socialism and crony capitalism - one eventually leading to the other - an example we’re only too well acquainted with in India, some parts of Europe and most parts of LatAm.
How then do we protect capitalist principles while also nurturing an environment that maximizes opportunity for all? Should we as a society seek equal access or equal outcomes?
Pure capitalism is heartless and leaves too many behind unequally favouring a prized few, while overregulated markets and industries stifle productivity and growth for the majority.
What the world is increasing beginning to seek is a sense of ‘fair-play’ balance between the two or who knows, maybe a new economic order altogether!
Make some time to watch this clip at length. It’s compelling! And I must say, her accent only adds to the quality and impact of her delivery. 😉
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