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View Diary: How to be the Smartest Guy in the Room (154 comments)

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  •  kovie, it took centuries for US to consider the (1+ / 0-)
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    concept of "collective guilt".

    Wingnuts is not sufficient to describe what fuels capitalism.  It's greed.  

    Ask Mr. Greenspan, of course, his comments in the past have crossed the light fantastic, and there will be plausible denial .

    •  I meant capitalism in the most general sense (1+ / 0-)
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      Which involves the accumulation and use of capital, necessarily in the form of debt, or else only those who already have capital could use it, which would mean a mostly closed system that could never really grow.

      Debt is what makes it possible for capitalist economies to grow (i.e. increase the amount of capital) and expand (i.e. enable more entities to have access to it) as fast and broadly as they do. This is as true for governments as it is for companies and individuals. Wingnuts don't seem to get this, or want to.

      "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

      by kovie on Mon Mar 04, 2013 at 03:29:14 PM PST

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