… Krugman in italics below in response to a question from one of the members of the comment community at Firedoglake.com
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Simple questions:
Are you a believer in capitalism?
If so how is that different from what we have now?
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"Um, there’s capitalism and then there’s capitalism. Sweden is capitalist — most of the economy is market-driven, profits are a key signal driving investment decisions, etc, etc.. But there’s also a strong safety net so that nobody goes without adequate food, shelter, and necessary health care; there are institutions like strong unions that police excesses in the private sector; and so on.
I’ve got the conscience of a liberal, not the belief system of a socialist. I think markets are a great way to organize a lot of what goes on in the economy. But the market system is a tool to be used when appropriate, not a deity to be worshipped without question."
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