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May 6, 2022Liked by Erik Dolson

The only solution to the excesses of capitalism that I'm aware of is The Nordic Solution. Almost daily I remember the interview I saw with a member of the Norwegian National Parliament. She said, "We have capitalism in Norway, but we control it."

The Nordic nations have capitalism for mostly discretionary commodities and services. AND, they control them by limiting, e.g., vast differences/gaps in compensation between front line workers and upper management. Most workers are unionized, and therefore have power to negotiate with empoyers for fair wages and benefits. And, of course, the Nordic nations have a large public sector that provides affordable medical care, childcare, education, pubic services. And that public sector is fueled by progressive taxes which also have the effect of limiting any massive economic gaps between regular citizens and capitalists.

Since Americans as a culture believe in the myth that if you work hard you'll become rich, American voters will not elect politicians who will enact the kinds of limits to capitalism's excesses as the voters in the Nordic nations do.

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I fear this is spot on.

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