Dennis Breslin wrote:
>
>
> Citizen Raimondo seems to have mislaid his copy of Schumpeter.
> Isn't the point of being an ordinary capitalist to have the right
> connections and besides aren't they all the generals, general
> dynamics, general electric, general motors, general mills, general foods,
> connecticut general who don't do so badly in wartime?
>
I've never read anything on how well or badly the ruling 2% or so of the population, as a collection of individuals, live during even severe depressions. I do know that when Mrs. Dodge inherited $50 million on the death of her husband in 1936 she put the entire amount into municipal bonds and lived very well off the (tax free) interest. It hardly concerned her how Chrysler made or lost money.
As a "pure capitalist" ( the abstract capitalist who operates in _Das Kapital_) the capitalist must of course strive to increase profits, avoid bankruptcy, etc etc etc. But as an individual, not a capitalist, how much difference does it make to him/her usually?
Carrol