Is Capitalism Doomed?

Discussion in 'Politics' started by georgephillip, Aug 20, 2011.

  1. georgephillip
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    georgephillip Gold Member Supporting Member

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    Leave it to Dr. Doom to ask the only question that matters.

    "NEW YORK – The massive volatility and sharp equity-price correction now hitting global financial markets signal that most advanced economies are on the brink of a double-dip recession.

    "A financial and economic crisis caused by too much private-sector debt and leverage led to a massive re-leveraging of the public sector in order to prevent Great Depression 2.0. But the subsequent recovery has been anemic and sub-par in most advanced economies given painful deleveraging.

    "Now a combination of high oil and commodity prices, turmoil in the Middle East, Japan’s earthquake and tsunami, eurozone debt crises, and America’s fiscal problems (and now its rating downgrade) have led to a massive increase in risk aversion.

    "Economically, the United States, the eurozone, the United Kingdom, and Japan are all idling.

    "Even fast-growing emerging markets (China, emerging Asia, and Latin America), and export-oriented economies that rely on these markets (Germany and resource-rich Australia), are experiencing sharp slowdowns."

    Is Capitalism Doomed? - Nouriel Roubini - Project Syndicate

    Obviously, the solution is to cut taxes on billionaires and corporations while laying off teachers, firefighters and cops and voting Republican OR Democrat in 2012.
     
  2. Grampa Murked U
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    Grampa Murked U Diamond Member

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    It's only doomed if all these countries, including ours, don't learn from the failed nanny state policies.
     
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  3. Oddball
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    Oddball BANNED Supporting Member

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    If anything is doomed it's centrally planned economies.

    For the premise that capitalism is doomed to hold any water, it would have to be descriptive of the current state of the economy...But it isn't, so it doesn't.
     
  4. Wacky Quacky
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    Wacky Quacky Silver Member

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    No more than Socialism, Communism, Fascism, and every other -ism is. But at least with Capitalism I have a chance to make it big.
     
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  5. BoycottTheday
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    BoycottTheday CEO

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    If capitalism is doomed why is the underground economy doing so well?
     
  6. M.D. Rawlings
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    M.D. Rawlings Classical Liberal

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    Well, lefty's doing everything he can to destroy it, that's for sure.
     
  7. georgephillip
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    georgephillip Gold Member Supporting Member

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    Codes that tax billionaires at a lower rate than their secretaries?
    Oil depletion allowances?
    Do you mean those failed nanny state policies?
     
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  8. midcan5
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    midcan5 liberal / progressive

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    Capitalism like all isms works only if watered and feed correctly, it can work anywhere, anyplace, any amount of time, or none at all, you may not like it, you may like, you may love it, depends on which end of the stick you find yourself on.

    "Moreover, if we give the matter a moment's thought, we can see that the 20th century morality tale of 'socialism vs. freedom' or 'communism vs. capitalism' is misleading. Capitalism is not a political system; it is a form of economic life, compatible in practice with right wing dictatorships (Chile under Pinochet), left-wing dictatorships (contemporary China), social-democratic monarchies (Sweden), and plutocratic republics (the United States), whether capitalist economies thrive best under conditions of freedom is perhaps more of an open question than we like to think." Tony Judt 'Ill fares the Land'


    "Under capitalism, man exploits man. Under communism, it's just the opposite." John Kenneth Galbraith
     
  9. Wacky Quacky
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    Wacky Quacky Silver Member

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    Those are bullshit policies. But that's not capitalism, that's a corrupt government being paid off by corporations, that's corporatism.
     
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  10. Wacky Quacky
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    Wacky Quacky Silver Member

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    I've never heard that quote before, but it's brilliant.:clap2:
     

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