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Capitalism is based on greed, and a machine is best defined by that which it is designed to do. A corporation is designed to maximize profits, not to be an engine of social responsibility and a pillar of the community. Some corporations are, yes, but many aren't. So when you rely on greed and self-interest as the fuel of a capitalist machine to dictate the "optimal" distribution of society's resources, you shouldn't be surprised when socially irresponsible and unjust outcomes occur.
Gates's Third-Way is not a panacea, as it relies on people becoming so rich that each marginal dollar they can earn becomes so meaningless that they are willing to give the majority of their increase away. I'm very glad that he is being responsible with his blessing of wealth and he stands as an example for others to do the same (I'm looking at you, Rex Tillerson). But compared to traditional classical capitalism, it certainly can't do any worse. posted 07/01/2008 at 17:27:35