Global Economy

What Your Tennis Shoes and Pigs Might Have in Common Some Day

     I am going to make this as painless as possible but here is something to think about on a cold winter night when you are losing money.

     Capitalism is thought by socialists to inevitably lead to a redistribtution of wealth which is unjust.  Namely, capitalism inevitably leads to a concentration of wealth in the hands of a very few, the owners of capital.  Labor inevitably gets the short end of the stick.  Capitalism cannot survive long-term because it will lead to such an unjust outcome that revolution will displace it.

     In the United States, the development of scale and mass production in the early 1900s is typified in the invention of the assembly line by Henry Ford (OK some dispute he actually invented it but bear with me).  The adoption of scale across many industries led to a tremendous accumulation of wealth in the hands of a few and the beginning of modern day concentration (fewer firms) was under way. 

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