Arianna Huffington <3s Capitalism

Michael Moore‘s new movie, Capitalism: A Love Story opens in Los Angeles on Wednesday and Arianna Huffington wants you to go see it. But the multi-millionairess doesn’t want you to get the wrong idea:

In the film, Michael describes capitalism as evil. I disagree. I don’t think capitalism is evil. I think what we have right now is not capitalism.

In capitalism as envisioned by its leading lights, including Adam Smith and Alfred Marshall, you need a moral foundation in order for free markets to work. And when a company fails, it fails. It doesn’t get bailed out using trillions of dollars of taxpayer money. What we have right now is Corporatism. It’s welfare for the rich. It’s the government picking winners and losers. It’s Wall Street having their taxpayer-funded cake and eating it too. It’s socialized losses and privatized gains.

Oh, Arianna. We love it when you get all populist. Read the full article at the Huffington Post.

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