Saturday, June 27, 2015

Lady Rothschild: Capitalism Should Be Socialism

Lynn Forester de Rothschild (60) who is married to  Sir Evelyn Robert de Rothschild (83) has a problem with concentrated wealth. It is apparently, though, just a "theoretical" problem, since she never mentions giving any significant portion of the wealth controlled by her and her husband.

The couple's estimated net worth is $20 billion.

She detailed her latest "concerns" during an interview on CNBC:.
Nothing is wrong with capitalism (but) it is meant to be a process that creates broadly-shared prosperity. So if capitalism was really working, then the term, the 'One Percent,' would not have gained the traction that it has, so how do we make it work for more people?
For starters, she is confusing capital with consumption goods. Just because many people don't own oodles of capital doesn't mean they don't benefit by the consumer goods created by the capital. That's what increases the standard of living, production of consumer goods. Secondly, the great barrier to new wealth is government regulations which make it extremely difficult to compete with established wealth. If Lady Rothschild really wanted to open the way for more capital accumulators, she should be decrying regulations that limit competition.

As for her claim that capital is meant as a process for "shared prosperity," she sounds as though she is implying that capitalism should be socialism.

The Lady is very confused.



  1. She's doing what Warren Buffet does. Warren tells the press and the president that he's in favor of higher taxes. Then he runs his business and his life in exactly the opposite way he just advocated. Lynn Forester de Rothschild's comments are designed to curry favor with the press and with leftists. I doubt she believes what she said.

  2. It's easy for the economic elite to claim that they're in favor of socialism.
    It's quite clear that elites are part of any collectivist system, and that socialism has not and will not ever create true equality. Just look at the USSR. To become a friend of the state is to get favorable treatment, so either way those that belong to the elite don't have much to worry about.
    From that standpoint it doesn't hurt to be a demagogue and try to deflect anger and hatred away from yourself by pretending to care about economic equality.

  3. I just dont understand why the interviewers settle for such dribble. Why not lead her outside, cameras rolling, find a homeless guy and ask her to write him a check. Reporters are the biggest whites of all. They've got the monsters right there and the tapes are rolling, but they never really get confrontational because they want get in more than they want the truth to get out. They want to sit with the cool kids rather than flip over the table.

    1. Major typo on my part: "biggest whites of all" should have a different "wh" word. Use your imagination.

  4. She is against concentrated wealth ... that is not hers.