The economy has produced great benefits for consumers and investors in the last thirty years: The Dow Jones has gone from 600 in 1975 to 13,000 today; we have countless TV channels; automakers are producing much better cars; we have many more choices for every kind of product, at lower prices. Capitalism has won. There’s no longer a contest between capitalism and communism.
But inequality is wider than at any time in the last eighty years; jobs are far less stable; the median wage is not much higher than it was in 1980, adjusted for inflation; Main Streets are disappearing; and our planet’s environment is endangered. There are real tradeoffs to the triumph of capitalism.
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