Ersatz Capitalism

I believe that this high and increasing level of inequality is not the inevitable result of capitalism, nor is it the working out of inexorable economic forces... The high and growing inequality in the United States is a result of its policies and politics, and those that have emulated the United States—the United Kingdom, for example—are seeing similar results. The inequality is a result of the country’s ersatz capitalism—rampant with monopolies and oligopolies, government-conferred benefits on corporations and the rich, bailouts for the banks, deficiencies in corporate governance, and tax laws that allow the richest to move their money to offshore tax havens and pay far less than their fair share of taxes.

From the Economist Magazine