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The government both times through really bad legislation and worse regulations.
who caused these major depressions?And so you have statism? Since, by your definition, freemarket capitalism has never existed and ours is the largest economy why should we care? Why should we endeavor for something that never existed when what we have seems to be working fine?
Really.
We have had two major depressions , the government has declared bankruptcy twice - every time we have an economic upheaval the central government becomes stronger. So only some one with an enslaved mentality would assert that the present economic system is fine.
The government both times through really bad legislation and worse regulations.
yeah that old free market capitalism had n-o-t-h-i-n-g to do with things.
lol.
We have had three major depressions: 1837, 1893, and 1929, along with quite a number of Panics and smaller depressions in our history, Comatose.
Panics, Depressions and Economic Crisis Prior to 1930
The Panic of 1819 Panic and Depression 1832
Panic and Depression 1836
The Panic of 1837
Six Year Depression 1837-1843
The Panic of 1857
Panic and Depression 1869-1871
The Panic of 1873
The Panic of 1893-Financial World
The Panic of 1893-Presidential Papers
The Panic of 1901-Market Fails, Panic Reigns-Part I
The Panic of 1901-Market Fails, Panic Reigns-Part II
The Panic of 1901- At The Stock Exchange
Panic and Depression of 1929
Brief Financial Notes based on 1875-1907
Caveat emptor.
Do you know how many government agencies were supposed to prevent Madoff for perpetrating a fraud - especially the SEC. But typical inefficient bureaucracy it fucked up royally.
People select a particular product according to what they think is best - they vote with their money.
Aside from the fact your definition is incorrect in both cases freemarket capitalism is at an end. That was my point.
A Capitalist government has no authority to authorize coercive monopolies.
lol.
We have had three major depressions: 1837, 1893, and 1929, along with quite a number of Panics and smaller depressions in our history, Comatose.
Panics, Depressions and Economic Crisis Prior to 1930
The Panic of 1819 Panic and Depression 1832
Panic and Depression 1836
The Panic of 1837
Six Year Depression 1837-1843
The Panic of 1857
Panic and Depression 1869-1871
The Panic of 1873
The Panic of 1893-Financial World
The Panic of 1893-Presidential Papers
The Panic of 1901-Market Fails, Panic Reigns-Part I
The Panic of 1901-Market Fails, Panic Reigns-Part II
The Panic of 1901- At The Stock Exchange
Panic and Depression of 1929
Brief Financial Notes based on 1875-1907
It sometimes astounds me how little people know about history. If they are aware of the Great Depression they probably couldn't tell you when it was. Thanks for posting the info.
lol.
We have had three major depressions: 1837, 1893, and 1929, along with quite a number of Panics and smaller depressions in our history, Comatose.
Just a moment ago, you were telling us how a central bank is bad and the cause of ills. Now you're saying that the lack of a central bank is the problem. You need to decide which direction you want to argue from.
However based on historical and sociological observation I don't see how your model can possibly work on anything but a limited scale, certainly not anything larger than, say a village or small town.
I honestly don't see how the "stronger", more ambitious personalities won't eventually usurp the process for their own ends and ultimately end up as a ruling class i.e. "state control".
That is why there is no pure capitalism, socialism, communism, fascism, etc. on a state level anywhere in the world.
difference between fascism, socialism, and "national socialism"?
WHO determines what constitutes the most desirable consequences?
HUH?
Transactions in a Capitalist socio-economic system are VOLUNTARY in nature so your "are not allowed" claim does not compute.
In most of Europe, real income growth was actually higher than in the United States, many European countries thus achieve not just less income inequality but are able to combine this with higher levels of income stability, better chances of upward mobility for the poor, and a higher protection of the incomes of older workers than common in the United States.
In the United States almost one half of children born to low income parents become low income adults. This is an extreme case, but the fraction is also high in the United Kingdom at four in ten, and Canada where about one-third of low income children do not escape low income in adulthood. In the Nordic countries, where overall child poverty rates are noticeably lower, it is also the case that a disproportionate fraction of low income children become low income adults. Generational cycles of low income may be common in the rich countries, but so are cycles of high income. Rich children tend to become rich adults. Four in ten children born to high income parents will grow up to be high income adults in the United States and the United Kingdom, and as many as one third will do so in Canada.
This paper uses historical U.S. data to directly estimate the contribution of intergenerational transfers to aggregate capital accumulation. The evidence presented indicates that intergenerational transfers account for the vast majority of aggregate U.S. capital formation; only a negligible fraction of actual capital accumulation can be traced to life-cycle or "hump" savings.
Once has to be gullible to the max to conclude that the National Industrial Recovery Act (NIRA) which required a massive federal intervention in the economy was "saving Capitalism" instead of enriching FDR a demagogue.
Labor unrest exists to a degree higher than warranted by the Depression. The unrest flows from insecurity, low annual earnings, inequitable hiring and rehiring methods, espionage, speedups and displacement of workers at an extremely early age. Unless something is done soon, they [the workers] intend to take things into their own hands.
For you to totally conceal the fact that the Federal government had controlled banking, credit and the currency since 1913 tells me that you a fraud. . In 1935 the US was deep into fascism .
In fact, there is a remarkable similarity between the economic policies that Hitler implemented and those that Franklin Roosevelt enacted. Keep in mind, first of all, that the German National Socialists were strong believers in Social Security, which Roosevelt introduced to the United States as part of his New Deal. Keep in mind also that the Nazis were strong believers in such other socialist schemes as public (i.e., government) schooling and national health care. In fact, my hunch is that very few Americans realize that Social Security, public schooling, Medicare, and Medicaid have their ideological roots in German socialism.
Hitler and Roosevelt also shared a common commitment to such programs as government-business partnerships.
And you also believe that a woman can be 1/2 pregnant.
Only someone determined to perpetrate a massive fraud would claim that an economy is BOTH fascist and capitalist . Capitalism is freedom - fascism is tyrannical , so how the fuck can a socio-economic system be free and dictatorial at the same time ?
True. Hitler recognized that the form of statism known as fascism was better that socialism . The German entrepreneurs accepted fascism for the same reasons that I would prefer to be afflicted by pneumonia instead of the H1N1 virus.
First, where Communism seeks to substitute the state for private ownership, fascism seeks to incorporate or co-opt private ownership into the state apparatus through public-private partnership. Thus fascism tends to be more tempting than Communism to wealthy interests who may see it as a way to insulate their economic power from competition through forced cartelization and other corporatist stratagems.
What the fuck is "collective management"? Can I tell the collective managers to fuck off and leave my widget factory alone?!?!?!?!?!?
I see, so you can mix liberty and slavery and the end result is still liberty. Hummmmm, Let me guess, you are smoking Mexican sinsemilla, right?
Because......
Elaborate on the "authoritarian" nature of Capitalism - explain to me how Capitalism - i a socio economic system based on the recognition of individual rights, including property rights, in which all property is privately owned. - is authoritarian in nature.
I won't hold my breath.
We hold these truths to be self-evident:
That all men are created equal; that they are endowed by their Creator with certain unalienable rights; that among these are life, liberty, and the pursuit of happiness; that, to secure these rights, governments are instituted among men
Of course it was , so don't ever use the term "controlled Capitalism" - once the government interferes with the economy in any way shape or form you have STATISM , in the case of Germany and Italy in the early 1940's , of the FASCIST variety.
Capitalism depends on the FREE MARKET, no the semi-free, not the semi-controlled, not the compassionate free market, ...........ad nauseam.
drone on
Fascism and socialism differ by one and only one facet...
Fascism is National Socialism, Socialism is international... Meaning that Fascism expects that socialist policy will be framed by and fall within the scope of the given culture and heritage of the nation in which they're being applied; and bolsters loyalty and patriotism to the State which is said to defend that culture.
Socialism of the international variety rejects the principle of national sovereignty and thus the respective heritage of such cultures; and requires that all loyalties be laid at the feet of 'the people', which is the ethereal object which is represented by and thus rests in the imbodiment of "The State."
However based on historical and sociological observation I don't see how your model can possibly work on anything but a limited scale, certainly not anything larger than, say a village or small town.
That is also not a specific criticism or objection, and you've not identified any individual element that you believe might contribute to such collapse. I've made it clear that I advocate horizontal federations of decentralized collectives and communes managed through participatory direct democracy, but you've not been able to articulate much in the way of precise and strong opposition to this, which is understandably difficult in light of the observably implemented facets of anarchism.
I honestly don't see how the "stronger", more ambitious personalities won't eventually usurp the process for their own ends and ultimately end up as a ruling class i.e. "state control".
This is the most inconceivable sentiment I've encountered, yet one that I've encountered all too often nonetheless. Traditionally, the rise of authoritarianism has been most vigorously opposed by the self-declared libertarian population. And the rise of authoritarianism has been facilitated by hierarchical governance structures. Conversely, the heavily anti-authoritarian sentiments of rank-and-file anarchists have traditionally created rather significant obstacles for the "ambitious," which is why so many are attracted to Leninism rather than avowedly stateless socialism.
I haven't referred to any "pure" ideologies except to note their nonexistence, and have consistently maintained that the only valuable form of an ideology is its actually existing manifestation. Your reference to anarchism as a "pure" ideology is evidently related to the misconception that its proponents think elimination of every hierarchical relationship in every context at all times a conceivable prospect. Yet we've always conceded that the deficiencies of human imperfection prevent such a state of affairs from coming into existence, and instead sought to minimize hierarchies in the public management arena to the greatest and most significant extent possible.
1. I understand your point, I had not read it previously.
2.You can consider it inconceivable if you so wish but I contend history is rife with such examples, yours and mine. From my experiences/studies, my scenario plays out more often.
3.Pure ideology is simply that, as you say unattainable. Minimizing hierarchies will only work within a relatively minimal time frame before inner or or outer forces drive a change. Nothing is static.
4. You are not going to change my mind. While you appear to be well versed in socio-economic theory it is my firm belief your understanding of practical (as opposed to theoretic) human nature is almost non-existent. to put it plainly you seem to have the "smarts" but lack the common understanding (generally referred to as common sense), essential in developing human interactive systems.
This is not meant to degrade you in any manner, it is simply observable conclusions based on available data, i.e. your postings.
Fascism and socialism differ by one and only one facet...
Fascism is National Socialism, Socialism is international... Meaning that Fascism expects that socialist policy will be framed by and fall within the scope of the given culture and heritage of the nation in which they're being applied; and bolsters loyalty and patriotism to the State which is said to defend that culture.
Socialism of the international variety rejects the principle of national sovereignty and thus the respective heritage of such cultures; and requires that all loyalties be laid at the feet of 'the people', which is the ethereal object which is represented by and thus rests in the embodiment of "The State."
This standard asinine commentary ignores the aforementioned critical points about the ideological contradictions between fascism and socialism, and the inaccurate nature of identifying state capitalism as "socialist" in nature. Congratulations on regurgitating one of your typically moronic posts, you politically and economically ignorant imbecile.
Pub - have you thought of checking with your doc to see if you have OCD?