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by iamshs 201 days ago
"Yellen’s concerns start with the idea that capitalism depends on the consistent application of the law — regardless of individuals’ or businesses’ wealth or political connections. Undermine that, and businesses, both domestic and foreign, will begin to think twice about making investments."

Law upholds capitalism? Can law be bent towards socialism?

2 comments

And can she point towards such a magical place and time where this was true?
Here's an article (book review) about corruption that I find illuminating: https://archive.is/CBQFY
Yes. It's not like economic systems are either capitalist OR socialist: other economic systems exist, or have existed. Some depend on enforcement of laws, others depend on unequal or selective use of State power.