……….one could write a book but in a short sentence:

” An economic model where crony capitalist oligopolies exploit abundant natural resources with minimal government interference and without regard for the protection of labor or the environment. “

“The left levels the unfounded complaint that there is “no middle class” in the US, ”

………..I’d like you to provide a source where any reputable economist of left or right says there’s no middle class in the US…..or do you just make this stuff up

” Thus the entire economy is weakened, including, in the majority of cases and in the long run (which, contrary to Keynes, is what matters), the protected groups. ”

……….And if you want to learn a bit about what Keynes really thought as opposed to what you think he thought you might like to read this recent piece by the noted conservative economist Tom Bartlett

http://www.forbes.com/2009/08/13/john-maynard-keynes-conservative-opinions-columnists-bruce-bartlett.html

This would assume that it is still hard work that gets people ahead, as opposed to being tied into the river of money that was the latest bubble, and the next one after that, and the one before the first one.

It’s disgusting rubbish.

Outsource me! Rightsize me! No, me! Me!

Again, it’s not a fear of capitalism but a fear of a certain type of capitalism. The one that brought the world economy to its knees.

Right, but it is a gross misrepresentation to suggest that that capitalism is the real thing, laissez-faire. The worldwide economic crisis would not have been nearly as big a deal without the massive government interventions that distort markets, promote moral hazard, socialize risk, and grossly inflate the money supply. Most of the evils of capitalism are mythical.

“Europeans are more willing to protect the village baker, butcher and tavern.”

Consider, however, that the economic result of these putatively more human policies is to protect the less productive against the more productive. Thus the entire economy is weakened, including, in the majority of cases and in the long run (which, contrary to Keynes, is what matters), the protected groups. There is a reason American incomes are substantially higher than European ones. (Of course I know that income is not the sole measure of quality of life, standard of living and so on. It is a pretty simple and straightforward proxy, though.)

Do we long for the good old days when 80% of Americans toiled in farm and field, doing backbreaking work from sunup to sundown for a subsistence income? We don’t have 80% of us on farms now because farmers have gotten so productive that less than 5% can do it, which has made them wealthier and freed the other 75+% to pursue more productive endeavors.

“……..It’s the 2009 US/Euro model of capitalism……you can of course return to the 1875 American model if you wish because it does still exist more or less…….in Russia……just book yourself a ticket”

What a bizarre analogy. MFarmer is on the mark. The left levels the unfounded complaint that there is “no middle class” in the US, but cannot get enough of programs that dampen economic growth and reduce the future wealth that will employ the middle class and out of which their beloved welfare state must extract its largesse. I can’t wait to read the details on how today’s Russia is the same as 1875 US.

……Schumpeter, an economist of the “Austrian” school……..Given the debate about healthy eating elsewhere, a very wise comment about the role of the local butcher, baker and candle stick maker……..and you’re not going to believe this I suspect because of your worldview but the US is an incredibly bureaucratic country for all sorts of reasons do with the fragmentation of govt, our patchwork quilt health insurance system, regs governing everything from car insurance to having your septic tank checked……I’ve lived for long periods in France and Britain and although they have the odd idiosyncracy they are not in the same league in bureaucratic terms……trust me it’s true