World Sees Capitalism As A Failure

[Dr Grump]

Berlin Wall and capitalism

 

[KittenKoder]

Not one person alive has actually seen true Capitalism in effect anywhere in the world ... except the primitive tribes in the middle of nowhere.

 

[Dr Grump]

Most economies have varying degrees of both socialism and capitalism.....some more extreme than others...

 

[KittenKoder]

Most economies have varying degrees of both socialism and capitalism.....some more extreme than others...

Aaah ... perhaps small amounts of capitalism, but not much, and almost no capitalism in the US.

 

[mascale]

It is recently shown that when the rich get richer, and the poor get poorer--unable to repay the mortgages--then economies worldwide, even, fail.

Like the Soviet Union, Bags of Crap who support the computing in the Laws of other nations--than those--intend killing of human creatures worldwide. The Laws of Nations allow that a fixed percentage be used to compute savings incomes, dividend incomes, investment incomes, profit incomes, COLA raises, and pay raises generally.

Clearly, the rich get richer, and the poor get poorer.

That doesn't work, and so any supportive intend killing even of any created offspring.

That is what Love is, on the planet, supportive of law like that.

Little kids should be told.

"Crow, James Crow: Shaken, Not Stirred!"
(Mostly, of course, anyone knows in the current bail-outs crisis--that the poor actually brought that on themselves. The bailed-out are not poor, or colored, for that matter, in the United States. That is the law, of our blessings of freedom!)

 

[Diuretic]

Free-market capitalism has possibly had its day. But then pure socialism isn't really a good model to aim for. Easy for me to say but it's probably time we started taking control of our economies and making them work for us with some sort of planned - but not command - approach mixed in with the virtues of the market.

 

[JW Frogen]

We have all just had a little scare, but some day the age of funny money, credit and captial that is really not there, will pop, and then we will see a real global economic crises.

Every IOU comes due.

And usually it is a guy named Lou ready to break your legs comming to collect.

 

[editec]

Of course faith in our ecoomic system is sinking.

People are suffering from the excesses of the masters of this system, and they're quite rightly pissed.

The objection, that this is NOT capitalism, this is corruption pretending to be capitalism, has some merit.

But if we look at the system it's more capitalistic than anything else.

It is still an economic system based on private property rights which is the foundation upon which capitalism rests.

 

[Diuretic]

And it would be foolish to even think about destroying private property rights. But that could also be because the Marxist definition of capitalism refers to the infrastructure in society, not just ownership of private means of produciton but control of the social infrastructure. A modified approach to the ownership of the means of production from private to social may well be beneficial for us in future. But as in many things it pays to take baby steps. Just one reason I'm against revolution and in favour of evolution.

 

[CrusaderFrank]

With Obama and other European Socialists at the helm of the ship of state, people are grabbing their life vests. It makes perfect sense that people see Capitalism as a failure: they blame the ship for the Captains mistakes

 

[Diuretic]

I don't know if it's hitting the iceberg so much as a realisation that the model might have seved its purpose.

 

[Richard-H]

We may tend to argue for the extremes, but I think that anyone with a brain realizes that only a socialist/ capitalist hybrid can possibly work. The real question is "What is the right mixture?"

When all economic & political theories seem to champion one extreme or another there is no philosophical basis for a hybrid. No good way of telling where and how to draw the line.

What we need is such an economic & political theory: Social-Capitalism.

O.K., I came up with the name - you guys figure out the rest....

 

[Toro]

There is no problem with capitalism. There is a problem with financial capitalism.

Only 11 per cent of people surveyed across 27 countries thought free-market capitalism was working well, while 51 per cent believed its problems could be solved with more regulation and reform, the poll conducted for the BBC World Service said.

I agree with this completely. We have to regulate and reform the financial system. However, we don't need much more regulation of the rest of the economy. The Apples and the Genentechs of the world are doing very well, and don't need to be regulated any more.

There is no system that has benefited mankind as much as capitalism. Free market capitalism by itself does not create all the wealth for all the people all of the time. It does, however, create the most wealth for most of the people, most of the time.

 

[Oddball]

There's a problem with crony capitalism, mercantilism and corporatism....None of which have anything to do with laissez-faire.

 

[KittenKoder]

I still hold to my contention, that no one alive today has seen true capitalism in effect, the US, especially, has only come close to communism masked as capitalism.

 

[Kevin_Kennedy]

So it's not just here in the U.S. that the masses can't define what free market capitalism is.

 

[Annie]

I don't know if it's hitting the iceberg so much as a realisation that the model might have seved its purpose.

Sounding a tad Marxist here.

 

[KittenKoder]

So it's not just here in the U.S. that the masses can't define what free market capitalism is.

Nope.

 

[Diuretic]

I don't know if it's hitting the iceberg so much as a realisation that the model might have seved its purpose.

Sounding a tad Marxist here.

Perhaps but perhaps only in the sense that Marx stated that capitalism would eventually fail.

I don't know enough about Marxist theory to elaborate on that and I know I've over-simplified his point, after all he did take three volumes (tomes) to analyse capitalism. And it's also somewhat puerile to say it will fall, that's on my part not Marx's, because eventually all economic systems fail for various reasons and are supplanted by others.

I think where Marx and others were wrong back there in the 19th Century was in concluding that capitalism would be overthrown due to its exploitative nature. It wasn't overthrown in western industrialised countries because while it did some harm it did more good to more than it did harm to others. That point has already been made in this thread.

What will finish capitalism won't be the nature of capitalism (from memory Marx stated something like the seed of its downfall was in itself) it will be a lack of natural resources, the use and provision of which will not be efficiently carried out by the market but which will mean societies have to take control and plan the exploitation and conservation of scarce natural resources and organise distribution on a needs basis.

Some sketchy ideas there I know but any that's the gist of my thinking on this.

 

[Dr Grump]

Social Capitalism is already at work in most Western countries