Full Idea
Capitalism is neither stable nor fair; it has exuberant booms and terrible busts; it has no innate propensity to moderation; it causes inequality and gross imbalances of power and wealth; it seeks profit in the soft option of monopoly.
Gist of Idea
Capitalism has boom and bust, inequality of power and wealth, and a love of monopoly
Source
Will Hutton (This Time No Mistakes [2024], 1)
A Reaction
A lifetime of insight summed up in an elegant sentence. Roughly speaking, capitalism is economic anarchy.
Book Reference
Cochrane,Tom: 'The Aesthetic Value of the World' [OUP 2021], p.1
Related Idea
Idea 24156 Capitalism is the best system for innovation, opportunity and better living standards [Hutton]