The problem is not scarcity; the problem is power.

Like a forensic accountant trying to solve a corporate fraud, following the trail of money around the circle is a good way to understand what actually happens as capitalism unfolds.

One of the glaring failures of capitalism is the continuing widespread existence of poverty - often extreme poverty. Even in the advanced economies, many millions of people endure terrible economic and social deprivation, despite the incredible wealth all around them.

If you want poor people to work you restore their incentive by giving them less, such as by cutting social services. If you want rich people to work you restore their incentive by giving them more, such as by cutting taxes.

Economic systems come, and economic systems go. No economic system lasts forever. Capitalism is not likely to last forever, either.

Apart from their work and production, households perform other important economic functions. Most CONSUMPTION occurs within the household. ... In developed capitalist economies, private consumption spending accounts for half or more of GDP.

Competition-ruthless, unforgiving, to-the-death competition-is a crucial feature of capitalism.