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)
Book Reference
Cochrane,Tom: 'The Aesthetic Value of the World' [OUP 2021], p.1
A Reaction
A lifetime of insight summed up in an elegant sentence. Roughly speaking, capitalism is economic anarchy.
Related Idea
Idea 24156 Capitalism is the best system for innovation, opportunity and better living standards [Hutton]