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Capitalism as Misunderstood

Episode: 19 December 2010, Question 6

Why is capitalism so misunderstood? I've noticed a huge backlash against capitalism in the media and on the internet for a while. Why? Why are people so resentful towards capitalism when it gave them all the prosperity?

My Answer, In Brief: Epistemic confusion is often at root of wrong ethics and politics – and that's definitely the case here.

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