Two leaders from Columbia University's Center For Capitalism And Society argue that criticisms of capitalism are misplaced. They claim that capitalism has been eroded by the steady growth of mixed economies in which government has played a larger role in determining the directions of the economy. They call this corporatism. They would like to restore a purer form of capitalism in which government does not play a large role.
They raise a point that is made by many on the left. Some call it crony capitalism, and others refer to it as corporatism as well. On the other hand, they make the case for an idealized form of capitalism that has never existed and only works well in theory. We are still trying to find a way to resolve the tensions between capitalism and democracy. It seemed to work a lot better 40 years ago than it does now. Making that work better is more realistic than wishing for a system of capitalism that only exists in the imagination of some economists.
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