In interesting article in the Washington Post, The Identity Crisis of American Capitalism, Stephen Pearlstein tries to make sense of the political food fight between “Romney’s role in job destruction at Bain Capital” and President Obama’s “hostility to free capitalism”. Pearlstein seeks to illuminate the food fight with the idea that capitalism comes in different “flavors”.
The varieties of American capitalism Pearlstein’s principal varieties of capitalism are:
Robber baron capitalism: is “capitalism under the control of a handful of clever entrepreneurs and financiers who ruthlessly used their economic power to enhance their political power, and vice versa. It was an era generally characterized by rapid technological progress, big booms and big busts with widening disparities in income and wealth.” It failed to generate continuous growth or widespread prosperity.
To read the full, original article click on this link: Resolving The Identity Crisis Of American Capitalism - Forbes
