Reply to post: Re: Capitalism? Corporatism? Kleptocracy? Education?

Raising minimum wage will raise something else: An army of robots taking away folks' jobs

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Re: Capitalism? Corporatism? Kleptocracy? Education?

Neither the US nor the UK have had capitalism for a few decades. They've got corporatism with added kleptocracy.

That's simply the degenerate case the capitalism converges on, as it concentrates wealth in smaller numbers of hands. An essential part of the game of capitalism is that money helps you win, so those who start winning tend to keep on winning. Above a certain level this is totally unrelated to skill; look at Paris Hilton, or Donald Trump.

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