xkcd: Nerd Sniping

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Dan Hannan: Bailing out banks isn’t capitalism

This is so true!


We keep hearing people complain about ‘capitalism’ – but what they are complaining about isn’t capitalism at all!

We live in a system where governmens practice targetted regulation, tax breaks/subsidies, bail-outs  and various other means which favour some businesses over others – as well as when the taxation schemes favour business which run inefficiently and turn little to no profit.  We live in a system where civil servants form an insular caste of their own, with salaries, pensions and other compensation roughly double the national average (which includes the high salaries of CEO’s and other wealthy executives) – and where top civil servants exercise unduinfluence over our elected officials through corrupted implementation of policies.

This is not just ‘not capitalism’ – it is everything capitalism stands against.

Yet, the more our system moves from cronyism to pure fascism, the more people demand that this ‘capitalism’ is evil!

At least call the miscreant by its proper name…