A decade ago, 80 percent of Americans believed that a free market economy was the best economic system. Today, that number is 60 percent. Another recent poll shows that only 42 percent of millennials support capitalism. [...]
Pearlstein’s new book, Can American Capitalism Survive?, chronicles the excesses of capitalism and shows how its ethical foundations have been shattered by a radical free market ideology — often referred to as “neoliberalism.” Capitalism isn’t dead, Pearlstein argues, but it has to be saved from itself before it’s too late. [...]
So I don’t think capitalism is an inherently moral system or an inherently self-defeating system, but we have to ensure that it adapts when it veers too far into corruption and inequality. And that’s basically what I’m calling for in this book. [...]
I want to quote something interesting from your book: “Liberal critics never miss an opportunity to complain about the level of inequality, but they’ve rarely been willing to say what level, or what kinds, of inequality would be morally acceptable.” I have my own answer to this, but I’m curious what you think the acceptable level of inequality is.
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