Economic Update - The “Great Debate” that Wasn’t

17Jul

 Throughout capitalism's history, the big topic in economics was how far the government should intervene in the economy. Conservatives wanted minimum intervention while liberals and socialists wanted much more. In fact, government intervention mostly aimed at saving, protecting, supporting capitalism. The genuinely "great debate" could and should have been about the strengths and weaknesses of capitalism versus those of a real alternative system, socialism.