[jbooth]

Or the history of reform.

I seem to recall a few years ago all of the smart "capitalists"* were telling us that we should put our SS money in the market. Around 2005-2006, if I recall correctly.

Good thing we didn't do it.

*"capitalists" in scare quotes to the extent that it may describe oligarchists rather than believers in true competition.

[cynicalkane]

That's not "capitalists", that's the financial media.

Most of the people I know who are involved in finance consider the financial media to be pretty stupid.

Finally, the financial media tell you to do all kinds of orthogonal and contradictory things, only some of which was to put all your money in the market. In fact, most advise and would have advised the opposite.

So, I don't see the point of what you are saying.

[jbooth]

The financial media and all "capitalists" who've been exposed to the downside of the risks they took. All that talk of individual responsibility and keep the government out of financial markets evaporated real fast, if I recall correctly.

Of course, now it's back again. It's as if 2008-2009 never even happened.

EDIT: My bad, you didn't get my initial reference. In 2005, a bunch of the "capitalists" were saying we should privatize social security and put it in the market. I was saying that would have been dumb. Regardless of how "capitalist" it may have been.

[binspace]

The true capitalistic thing to do would be to let the companies that took stupid risk go out of business. Instead they want socialism. It must be wonderful to profit from big risks and get bailed out when the risks don't pay out. I would take those "risks" too.