The Case for Progressive Capitalism
 

An interesting article in the Bulwark today, the title alone is guaranteed to terrify some.

How to save the free market, avoid an extremist backlash, and move America forward.
by RICHARD NORTH PATTERSON

The Gilded Age defies nostalgia. From roughly 1870 into the early 20th century, America spawned ostentatious opulence, income inequality, class immobility, grinding poverty, and the corporate monopolization of legal, economic, and political power.

By 1890, the top 1 percent of the U.S. population owned 51 percent of all wealth. The top 10 percent owned 86 percent. The lower 44 percent owned just 1.2 percent of total wealth. Burgeoning bribery and corruption intensified partisanship and polarization. Societal comity sickened.

This pathology spawned the progressive era symbolized by Theodore Roosevelt; two decades of reforms which helped relieve poverty; improved health, education, and working conditions; constrained corporate power; dismantled monopolies; and established the income tax. Yet it also protected capitalism from a more extreme reaction—because it persuaded ordinary Americans that democracy still worked.

Today, it takes little imagination to see a new Gilded Age emerging. In 2018, Pulitzer Prize-winning business writer Steven Pearlstein wrote Can American Capitalism Survive, accompanied by a telling subtitle: “Why Greed Is Not Good, Opportunity Is Not Equal, And Fairness Won’t Make Us Poor.”

The rest of the article.

https://thebulwark.com/the-case-for-...ve-capitalism/

No, almost anything that is against whatever degree of socialism is fine with me.

We need to have some checks and balances on Capitalism but the Dem party no longer thinks that is important, they would rather a "Managed Economy", and all their roads lead there.

So nope. And yes, I know about the Bulwark.

You think Michael Bloomberg is a socialist?
I knew the title was terrifying:rolleyes:

Hahaha, Bloomberg crosses lines for me I won't take.

The problem with today's Progressivism is that it will chip away at any institution to reach its ends. We need a center Dem and a center Rep - we are not getting either. Creepy Uncle Joe may have once been that guy but he will toss it all aside for votes. So again, nope ; )

Unlikemthe party of Trump that will simply cast them away?
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I think we can survive Trump, not sure if we can survive the rest.