I continue to be absolutely amazed at how far the World Economic Forum discussion about "capitalism" advances.
The BBC has aired an interview with Marxist historian Eric Hobsbawm, who in the tradition of the other discussants, fails to make a clear distinction between capitalism and government intervention on behalf of insider operators. Adbusters features the interview with the subtitle, "Capitalism is making humanity obsolete". And indeed, in this interview, Hobsbawm comes pretty close to declaring that, since he states that "capitalism" is creating a situation where there will be no jobs.
If there are no jobs, its because minimum wage laws are extremely high, or otherwise we are all in some never, never land with all our wants fulfilled. But Hobsbawm's world seems to somehow be one where machines somehow takeover all tasks and so the "capitalist" have no use for most of humanity. Allowing just for a moment Hobsbawm's absurdity, he does not address the question that perhaps maybe, if the fat capitalists are completely satisfied, that there would be plenty of opportunity for up and coming entrepreneurs to feed, clothe and house the starving masses, and thus also employ them.