Jeppy

Excess profits that are creamed of and hidden away from taxes are an anathema and are pretty common amongst the wealthy. Trickle down economics doesn't work. Boom and bust is a result of rampant misguided speculation. As for development? Clearly you misunderstand the word.

As for development I do understand the word and I also understand that growth is a necessary but not a sufficient condition for development. Try find a single development economists who doesn't believe in that statement and then tell me that growth is pointless.

I was pointing out that focusing on nothing but economic growth in a world with such incredible gaps in wealth health and happiness is clearly wrong. A world where people starve whilst others throw away food and millions are homeless whilst others have 6 homes is unjustifiable.

I understand that. But through focusing on growth is the best way of solving absolute poverty, health problems and income disparities is through economic growth. Look up the Kuznets curve which won a Nobel Prize in economics.

In a world where every boat rises equally with the economic sea that would be true. We clearly do not live in such a world. Many are drowning whilst a few look on from warm safe islands. The reality doesn't match the model.

What do you propose to be the solution? Because Capitalism is the worst form of economy apart from all the rest.

A mixed economy where profit isn't a factor in essential sectors. A taxation system which doesn't stifle true investment but does cap personal excessive wealth. A system which recognizes true worth and true need and takes care of both. The current system is clearly broken.

I agree less profiteering in essential sectors. Needs to be competition though so essential sectors improve. Cap on wealth is a very bad idea however. Say I own 100% of Company A which is worth exactly the maximum amount of wealth. I basically have to aim for stagnation.