Just to supply one more major example that laissez-faire free enterprise as the be-all end-all for economic growth and benefits to society is
- a myth, and
Robert Samuelson writes in today's WoPo Op-Ed that "...in the long run, the interests of labor and capital coincide."
He then cites the share of national income achieved by Capital and Labor at years 1950, 1980, 2000, & 2011 which show that Labor's share has declined by 8.9% since 1980, while Capital's Share has increased by 23.2%&...
All current major (and minor) economists, even the most progressive (characterized perhaps by Stieglitz, DeLong, & Krugman), take as their premis that Capitalism is the best economic system then proceed to propose and argue "but it has to be effectively regulated".... or words to this effect. If I rephrase this ...