Capitalism Without Tears

Here is a tiny but very interesting article, especially considering its source.

With capitalism,

...profit margins should naturally mean-revert and oscillate. The existence of fat margins should encourage new competitors and pricing cycles that cause those margins to erode; conversely, at the bottom of the cycle, low margins should lead to weaker players exiting the business and giving stronger companies more breathing space. If that cycle doesn't continue, something strange is taking place.  

We can discuss this. Regarding the articles I recently wrote about the Obamacare Co-Ops, one of the problems here may be that there has now been so much monopolization in capitalism that new players can simply not afford the costs of entering the market to compete. And what this would mean, of course, is that the "free market" is both disappearing and incapable of being recovered by anything other than political (as opposed to economic) activity.

On a related note, the head of Goldman Sachs has been watching Bernie Sanders and he doesn't like what he sees.

For many, this will count as a ringing endorsement.

On the subject of a President Hillary Clinton, Mr. Blankfein is coy.

unagidon is a contributing editor to Commonweal.

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