Sunday, September 11, 2011

Will Hutton on Successful Capitalism

Nice paragaph :

Successful capitalism is an incredibly difficult phenomenon to create and sustain. It depends on entrepreneurial flair, yes, but also on ideas, institutions and processes ranging from great universities to innovative financial organisations that do not always appear spontaneously by the operation of free markets. They sometimes have to be designed by public action. Great businesses and wealth flower in strong societies that equip their entrepreneurs to prosper. The framework which supports this costs money, and it is proper that the rich should contribute proportionally.

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