“On the consumption side, it means promoting renting over owning, and broadening the sharing economy.” Some of what you say makes some sense but promoting renting over owning is a really bad idea. Think what you are suggesting: if everyone owned their own home, the world would be a much better place, and every home owner would have a stake in the economy, and capital, in the form of real-estate.

Just ask yourself these questions:

Q: How do you identify a rental property on a street?

A: By the overgrown lawns and unkempt gardens: people don’t take care of what they don’t own.

Q: What do you call areas of high rental accommodation?

A: Slums.

We should be subsidising first home buyers to get out of the rental market and start building some equity in their own homes.

I also think your thesis that Capitalism is broken is flawed: ‘Three-quarters of German adults, two-thirds of Britons and over half of Americans believe that, “the poor get poorer and the rich get richer in capitalist economies”.’ The truth is the opposite, but is not a fact that can be determined by a poll, you need to look at the data. On just about every metric, the World is better of today than it was 30 years ago: Poverty is in rapid retreat all over the World.

https://www.gatesnotes.com/2017-Annual-Letter

http://www.nytimes.com/2002/08/15/business/economic-scene-rich-get-rich-poor-get-poorer-right-let-s-take-another-look.htm

Why do people, often the majority in western countries, think the poor are getting poorer over the same period? One word: propaganda. There is no future for Socialism were it widely known just how successful Capitalism has been in lifting the poor out of poverty.

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I work in IT, Community volunteer interested in Politics, support Capitalism as the best economic system for lifting people out of poverty, Skeptical scientist.

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Al Black

Al Black

I work in IT, Community volunteer interested in Politics, support Capitalism as the best economic system for lifting people out of poverty, Skeptical scientist.

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