October 6, 2008
By David Schweickart
Now here's something that's never mentioned in polite company: It doesn't have to be this way. We don't have to rely on the animal spirits of the wealthy to keep the economy healthy. Our economy, to be sure, is a capitalist economy. That is to say, we rely on the private savings of private individuals to provide for the investment that any healthy economy needs. But in depending on private savings, we are compelled to keep up the spirits of those with money to invest. This means insuring that they can make a healthy return on their investment, and, above all, not letting too many fail.
But this "solution" is problematic...
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