In today's America, capitalism has become increasingly free from the regulations that once controlled it and ensured it served society's interests. This statement suggests a significant shift where market forces are allowed greater autonomy without checks or balances designed to protect public welfare.
The deeper meaning of this observation touches on the broader implications of deregulation in contemporary economic systems. It implies that when capitalism is unbound from societal constraints, it may lead to an imbalance between private profit and public good. The core idea is that without regulatory oversight, corporations might prioritize their own financial interests over the well-being of society as a whole. This can result in wealth concentration among a few while potentially leaving others behind, exacerbating social inequalities.
Paul Craig Roberts is a distinguished economist and political scientist known for his critical views on American economic policies and their global impact. He has had a long-standing career analyzing and commenting on various aspects of capitalism and its regulation within the United States and beyond.
