Report
Patrick Artus

More than just failures of capitalism, there have been failures of government too

The failures of neoliberal capitalism are well-documented and known: skewing of income distribution against wage earners; excessive offshoring; overuse of fossil fuels; financial instability; return of monopolies; constant decline in the tax burden. But many of these failures attributed to capitalism are in fact failures o n the part of governments, which: Have abandoned income policies; Have had no strategic view of production that should not have been offshored to emerging countries; Have failed to implement an appropriate carbon price; Have implemented competition policies that have allowed the return of monopolies; Have failed to coordinate tax policies to prevent tax competition. Had governments not failed in these areas, it would be problematic for companies to have the sole motive of maximising profits, as this maximisation would take place within the constraints set by governments.
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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