And how do you know that the market will put more money in the hands of the majority of people if government expenditures, taxes, and government regulation is scaled back? (these are things that I assume you would support, so correct me if I am wrong)
Laissez faire capitalism, in my opinion, tends to create more poverty. For example, if we look at IMF policies of privatization, fiscal austerity, and liberalization in such countries as Russia, Argentina, Venezuela, among others, we see that the laissez faire policies created increased poverty, economic distress, and in the cases of Argentina and Venezuela, social unrest. These policies did not put more money into the hands of poor people, but instead, concentrated wealth in the hands of a few.
Maybe you can explain your idea of how the market could work to benefit the majority of people, when it seems to me it hasn't and can't. |