Capitalism
Updated February 14, 2024 by Roy Philipose Capitalism is a failed economic system. The system has failed to uplift people from poverty; reduce inequality; provide upward mobility; and improve overall "quality of life." The capitalist system rewards those with capital and punishes those without. The accumulation of private wealth takes preference at the expense of societal improvement. The "invisible hand" that is supposed to be working hard to better everyone has become the "greedy hand" to better yourself. For capitalism to succeed, the system has to be more societal-based versus empirical-based. A wealth tax is needed to correct the great wealth imbalance. © Roy Philipose 2024.