Wrote this a while ago, but someone just brought back the same tired argument 16 years later (goddamn!) so I felt it was a good time to repost.
Wrote this a while ago, but someone just brought back the same tired argument 16 years later (goddamn!) so I felt it was a good time to repost.
Putting it another way, what’s being described here is not a capitalist. It is a bank or other form of money lender. When you take out a loan the bank is taking a risk that you won’t pay them back, but if you do they get a little extra in the form of interest. You don’t, however, keep paying them for the rest of your life even once the loan is paid off.
No it’s describing the capitalists as well, or more accurately the arguments right libertarians make to argue that capitalists deserve profit for the “risks” of investing their capital.