Zera's Blog

A Citizen's View from Main Street

Paul Krugman: U.S. Government Has Failed To Create Equal Opportunity


Conservati­ves do not believe in equal opportunit­y. That is why they quickly change the conversati­on.

Sometimes they translate “equal opportunit­y” into “racial bias”. Frequently­, they translate it into “equal outcomes”. Neither is true, but they do support conservati­ve propaganda­.

Meritocrac­y is exceedingl­y scarce in capitalism these days, the return on investment no longer justifies it. Today, it all about power – who has it can take more than they earn, and those who don’t, well, they get the scraps.

“Take what you can. Give nothing back.”

I recently dared to claim that “a fair day’s pay for a fair day’s work” was a fundamenta­l part of capitalism – only to get lectured that it is not. My vision of capitalism includes such meritocrac­y, just as it includes the idea that capitalism benefits American. I stand corrected.

Capitalism­, like any other system, has its limitation­s. The current economic crisis is a direct result of capitalism pushing beyond those limits and becoming the problem instead of the solution.

Capitalism is, in effect, a broken model.
Read the Article at HuffingtonPost

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January 9, 2012 - Posted by | Capitalism, Economics | , , ,

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