Capitalism Guarantees Rising Inequality

Discussion in 'Politics' started by georgephillip, Jan 20, 2014.

  1. georgephillip
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    georgephillip Gold Member Supporting Member

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    Where is Democracy to be found in a world where the three richest individuals have assets that exceed the combined GDP of 47 countries?

    A world where the richest 2% of global citizens "own" more than 51% of global assets?

    Ready for the best part?

    Capitalism ensures an already bad problem will only get worse.


    "The Organization for Economic Cooperation and Development (OECD) states that income inequality 'first started to rise in the late ‘70s and early ‘80s in America and Britain (and also in Israel)'.

    "The ratio between the average incomes of the top 5 per cent to the bottom 5 per cent in the world increased from 78:1 in 1988, to 114:1 in 1993..."

    "Stiglitz relays that from 1988 to 2008 people in the world’s top 1 per cent saw their incomes increase by 60 per cent, while those in the bottom 5 per cent had no change in their income.

    "In America, home to the 2008 recession, from 2009 to 2012, incomes of the top 1 per cent in America, many of which no doubt had a greedy hand in the causes of the meltdown, increased more than 31 per cent, while the incomes of the 99 per cent grew 0.4 per cent less than half a percentage point."

    Spotlight on Worldwide Inequality

    There are alternatives that don't require infinite "growth."
     
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  2. Godboy
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    Godboy Gold Member

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    No one has benefitted more from capitalism more than poor people. Their quality of life is a million times better than it used to be.
     
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  3. georgephillip
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    georgephillip Gold Member Supporting Member

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    Do you have any proof of that statement?

    "In a world of plenty why are hundreds of millions, perhaps billions of people vulnerable at all? The vulnerable and exploited exist because of an inherently unjust social-economic system, which has caused extreme global inequality and built a divided and fractured world society."

    Spotlight on Worldwide Inequality
     
  4. Spiderman
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    Spiderman Senior Member

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    I don't really care about other countries.

    Just compare the "poor" in the US to the rest of the world and you have to come to the conclusion that our system is better for poor people.
     
  5. ScienceRocks
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    ScienceRocks Democrat all the way!

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    Seeing how much of modern technology wouldn't exist if not for capitalism and freedom of thought. I'll just have to say that life would be utter hell without capitalism.

    When has pure socialism been successful? The human economy works like a engine...You need input and out put. Socialism is only good at output....
     
  6. Mac1958
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    Mac1958 Diamond Member

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    Great, so what would you like to see?

    Specifically?

    .
     
  7. ScienceRocks
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    ScienceRocks Democrat all the way!

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    Increasing growth = growth of hope and living standards.

    What could be better for the poor?
     
  8. BobPlumb
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    BobPlumb VIP Member

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    Want income equality, move to Haiti!
     
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  9. Seawytch
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    Seawytch Information isnt Advocacy

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    Right...fuck income inequality because our poor have microwaves! We win!
     
  10. midcan5
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    midcan5 liberal / progressive

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    Read this book or even just the chapters on Capitalism. It is twenty years old and reads like it was written this past year.

    "The idea of Capitalism as a venture within society or between societies based upon cooperation and mutual profit is thus absent from the multinational model, and increasingly it is absent from the smaller managed corporations. Precisely that cooperation has made Japan's success possible. All the Japanese particular peculiarities, which we are now attempting to imitate, are merely consequences of that cooperation. That is why our efforts to imitate them resemble parody more than they do reorganization. You cannot have a Friedmanite view of market forces or a business school idea of business as structure and then expect to benefit from the cooperative methods proper to the Japanese or to the Swedes or even to the Koreans, to take three very different examples. The market approach and the cooperative approach are mutually destructive." p390 John Ralston Saul, 'Voltaire's Bastards'


    "The effect of this tandem is to put downward competitive pressures on the northern United States; on Canada, now linked southward by a continental economic integration pact; and on other countries who wish to compete in these markets, or to compete with their exports. The Maquiladora experiment has been so successful that corporations have pushed the American and Mexican governments towards a full-scale economic pact. The Mexicans hope that this will lead to an influx of capital, new jobs and an improved economy. But the interest of the investors is primarily in cheap, unsecured labour and unregulated industrial production standards.

    Why would sophisticated, technocratic employees seek aggressively to destabilize the structures of their own countries in order to give comfort to the sort of social systems which their fathers rejected as criminal less than a century ago? And why would they or we entrust any part of our fundamental needs to unstable societies which have not yet gone through the economic and political turbulence which surrounds most industrial revolutions? No doubt the managers in government and industry looked at their flowcharts and thought there was no other way. It apparently did not occur to them to question the effects of this strategy on their own society." John Ralston Saul, 'Voltaire's Bastards'
     
    Last edited: Jan 20, 2014

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