Well, when I talk about capitalism being morally redundant or repugnant, I'm talking about how things are now.
Not as they were back in Keynes's day.
I'm fine with his concept of a mixed economy, with the State taking responsibility for public provision of key fundamentals such as health care and education, which are just too important to be left to those motivated by profit.
The UK principle of healthcare and education being free at the point of delivery to all, is a precious one which should be hung onto at all costs.
The edges are being eroded all the time.
All ultimately pay for it through direct or indirect taxation.
It's why bodies like NICE are so important to temper the worst excesses of profit-motivated BP.
Without NICE, the NHS would be bust in 6 months.
The private sector can do their thing as regards elective demand and elective purchasing.
But Keynesian concepts of supply and demand just don't mean the same any more. The world has been taken over by financial speculation on a grand scale, concurrent with development of computer technology and the coming of that interweb thingie.
Ruling elites across the world take advantage of this to enrich themselves, be they African dictators, leaders of former command economies, or are coloured orange.
And the worst bit of financial speculation is negative speculation. As seen in shorting, of course.
You should only be able to sell what you truly own.
If you think that a small bio company is dodgy, you just elect not to buy into that company.
I won't go further, because I might inadvertently stray into politics..
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