A Quote by John C. Bogle
Capitalism is not a Ponzi scheme. Capitalism is a scheme of free markets.
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It is not uncommon to suppose that the free exchange of property in markets and capitalism are one and the same. They are not. While capitalism operates through the free market, free markets don't require capitalism.
People think what's in the US today is capitalism. It's not even close to capitalism. Capitalism doesn't have a central bank, capitalism doesn't have taxes, it doesn't have regulations; capitalism is just voluntary transactions. What they have in the US today I call crapitalism. But it's sad that so many people are confused and they think, 'Oh that's free markets in the US', when it's one of the least free market countries on earth.
Capitalism is not about the profit motive. Capitalism is about free markets. What you do in the market, in your free will, is the essence of capitalism.
Ignorance, as well as disapproval for the natural restraints placed on market excesses that capitalism and sound markets impose, cause our present leaders to reject capitalism and blame it for all the problems we face. If this fallacy is not corrected and capitalism is even further undermined, the prosperity that the free market generates will be destroyed.
We do not have free market capitalism in America; we have crony capitalism. There is a huge difference between free market capitalism that democratizes a country and makes us more efficient and prosperous and corporate crony capitalism.
No Ponzi schemer tells anyone exactly how it works. The purpose of a Ponzi scheme is to trick people, to take the money and run.
In a Ponzi scheme, a promoter pays back his initial investors with money he has raised from new investors. Eventually, the promoter can no longer find enough new investors to pay off the people who have already put up money, and the scheme collapses.
Let's embrace productive capitalism, not casino capitalism, by restoring transparency and true competition in the commodities markets.
The whole government is a Ponzi scheme.
Lets embrace productive capitalism, not casino capitalism, by restoring transparency and true competition in the commodities markets.
Madoff Securities is the world's largest Ponzi scheme.
Before the GOP became the party of Trump's gangster capitalism, they weren't perfect capitalists, but they at least paid lip service to the power of markets and capitalism.
Washington treats Social Security like a Ponzi scheme.
The welfare state may be well-intentioned, but it is a Ponzi scheme
Social security isn’t a ponzi scheme. It’s not bankrupting us. It’s not an outrage. It is working.
I don't think the western world is questioning capitalism. Capitalism as a concept is not something that society has written off. But today, there is degree of caution around capitalism. We believe in compassionate capitalism. Growth for growth's sake can never be an end in itself.
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