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How coronavirus has exposed the myths of free-market capitalism


Leigh Phillips, author of the People’s Republic of Wal-Mart, discusses how crises have shown markets to be inefficient at meeting needs and demand. How capitalist corporations such as Wal-Mart and Amazon operate with central planning instead of market mechanisms. Why central planning doesn’t lead to authoritarianism and how instead, authoritarianism undermines central planning such as in the Soviet Union and China. How Coronavirus is forcing capitalist economies to take a central-planning approach. The myth that free markets allow more risk-taking and innovation and much more! 


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