4 May 2014 2:37 pm
The problem with the current definition is that the crony capitalists have coopted the word capitalism. Fundamentally, capitalism is simply the private exchange of capital for goods and services, capital being anything of value, be it labor or the fruits of labor. Many people think we live in a capitalist society when it is actually crony capitalism, where the rules of the road are written by the powerful to keep the powerless from getting a leg up. The prime example of this is "deregulation" in recent years that yields more regs, which benefit the monied.tharock220 » 04 May 2014 2:30 pm » wrote: This doesn't make any sense Cannon. In all seriousness, you're blaming a public institution for controlling the ability of the economy to produce something. That isn't Capitalism. I agree with what you're saying, but I don't agree with you definition.
I'll tell you this though, a friend of my Dad's owns a number of car-washes around Houston. He hired a book-keeper to take care of his finances several years back, and at one point a couple years ago that book-keeper made a mistake that had tax implications. The guy wound up having to pay penalties. Here's the thing though, if the guy had hired a CPA then my Dad's friend wouldn't have been on the hook for the mistake and the CPA would have, and that's exactly what he uses.
Is it not insane that government gives a subgroup of what are essentially accountants this special power so that they can charge more???
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