1/ Commanding Heights is a fascinating book. It chronicles the rise and fall of capitalism & socialism throughout the world.https://www.amazon.com/dp/B000FBJH9Y/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1 …
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2/ Authors perhaps over-emphasize the narrowing economics gaps due to capitalism because there has often been little ideological or ethical support for capitalism, only pragmatic support. [
@tylercowen has provided the moral case for economic growth here: https://www.amazon.com/dp/B07G9DFC8W/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1 …]1 reply 0 retweets 9 likesShow this thread -
3/ Capitalism, as a narrative has been portrayed rather uninspiringly -- a system which has the pursuit of self-interest as its guiding light doesn’t exactly nourish the soul.
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4/ Communism/socialism, by contrast, is very inspiring, calling for the best of humans. It also resonates most with how we relate to our friends & family members ("From each according to his ability; to each according to his needs.")
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5/ Capitalism is often counterintuitive — it’s tough to explain how a minimum wage won’t help someone who’s making $8 an hour. It's tough to explain compounding returns.
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6/ In the Spanish Civil War, soldiers are said to have died with the word "Stalin" on their lips. People aren't dying with “free markets” on their lips.
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7/ This presents an opportunity: rebranding & reframing capitalism/economic growth. What are low-hanging fruit opportunities to do so? If some org gave you $10m for this exact mission, what would you do?
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Replying to @eriktorenberg
Um, make a living museum and/or repository of lived histories among all people (who are now dying off) who lived under command-style economies during the Cold War.
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That said, I’d also temper it with Fukuyama, who is now taking back some of what he wrote with “The End of History.” Concentrated economic power that subverts democracy is also illiberal.
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