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Capitalism May Need Modernizing,’ Says Billionaire Hedge Fund Manager Paul Tudor Jones

(CNBC) Today’s definition of capitalism needs an overhaul because of income inequality, billionaire hedge fund manager Paul Tudor Jones tells CNBC.”Capitalism may need modernizing,” the reclusive trader says. Jones points to economist Milton Friedman’s nearly 50-year-old definition that the “social responsibility of a company is to improve its profits,” which he says was relevant at the time but “today, it’s a different deal.”

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