Bernie Sanders: ‘Thank God’ for capitalism

"Sanders’ statement takes on greater significance given the context of his interviewer’s question: Bernie Sanders credited capitalism with lifting 1.2 billion people out of extreme poverty." - Acton

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mmartin's picture

While I don't have direct objective data to support this theory, I definitely feel the rise in popularity of socialism in today's college and high school student is directly related to the emphasis on STEM at the expense of other subjects, particularly history.  History is extremely important because if anything, history teaches us about human behavior.  That is, human behavior in relation to their circumstances including reactions to governmental policies.

A while ago I heard the audio version of Thomas Piketty's book, "Capital."  Interesting in some respects, but pure trash in others.  For example, he writes much about the imbalance in income and wealth, but I do not recall where he ever states why that is bad or wrong.  At what level does this inequality become reasonable?  At what what level is it wrong?  Should there be no inequality whatsoever?  Who knows?  Brother Piketty doesn't say.  Piketty also calls for a worldwide global capital tax, which is just bizarre, not to mention an idea made out of pure unicorn farts.