One of the claims for which Daniel Altman argues in Outrageous Fortunes is that neither a
purely capitalist nor a completely communist economic system is sustainable in
the long term. Among other problems, unrestricted capitalism tends to result in
market failures that create inequality and in opportunities taken by people
with more resources rather than by people with more talent. And uncompromised
communism tends to fail due to isolation from wider markets and the difficulty
of central planning. What is needed is an appropriate balance between control
and regulation on the one hand and freedom and privatization on the other.
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