This is a YouTube video published on March 17, 2015. The caption reads: Capitalism has its critics and its defenders. But both sides tend to ignore the real problem. There are overlooked consequences of capitalism that affect us in ways we might not realize – compartmentalized thinking, gender imbalances, loss of political freedom, horses driving us around…
Michael D. Greaney I see two, one of omission, one of commission. Commission: the statement was made that the owner of capital lives off the labor of others. No, the owner of capital lives off the productiveness of his or her capital, not labor. Omission: it implied that capital ownership depends on having money. No — it depends on access to credit. Existing ownership provides collateral and makes a borrower creditworthy, a lack that capital credit insurance and reinsurance can provide.
