Summary
THE MAJOR flaw in Peter Gibson's argument addressing my "simplistic" view that capitalism is the root cause of inequality in the world comes when he states: "Private ownership of natural wealth, preferably spread through the population, offers the best long-term prospects . . . " (September 14).
In fact, there is no country in the world where private wealth (of any sort) is "spread through the population". On the contrary, the workings of the capitalist system ensure that private wealth is progressively becoming concentrated in the hands of fewer and fewer people. When it comes to oil, let's be clear: a handful of giant companies making record profits dominates the market, and even in parliamentary democracies ordinary citizens have no control over what happens to that wealth.See the full content of this document
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Capitalism Is the Root Cause of Inequality
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