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Used to be;
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this is kind of why I used to be.
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I'm up talking to the lead Republican staffer
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at The House Energy and Commerce Committee
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and saying at one point that capitalism
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justifies itself by creating real, not illusory, value.
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To which he replied, "Well you're nothing but a communist."
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That, in fact, is the problem.
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Under Smithian assumptions about long-term honesty,
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long-term interests in real value creation,
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it worked perfectly.
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It's just that when those assumptions start to erode,