The evolution of capitalism

[Old Rocks]

Capitalism in it's present form in the US is not working for the majority of our citizens. We have been forgetting Smith's warning about the necessity of regulations and laws to prevent accumulation of wealth to the point of strangling competition, to the point of holding the majority of the population in an economic servitude. This article proposes a new morality for the Epstein class, and a greater share of the wealth for all citizens. It is not a rejection of Adam Smith's capitalism, but a reiteration of it in view of present technological advances and environmental challenges.

MSN

 

[Soupnazi630]

Capitalism in it's present form in the US is not working for the majority of our citizens. We have been forgetting Smith's warning about the necessity of regulations and laws to prevent accumulation of wealth to the point of strangling competition, to the point of holding the majority of the population in an economic servitude. This article proposes a new morality for the Epstein class, and a greater share of the wealth for all citizens. It is not a rejection of Adam Smith's capitalism, but a reiteration of it in view of present technological advances and environmental challenges.

MSN

The lack of competition is not caused by accumulation of wealth it is caused by government regulation and control

More of the same does no good.

 

[gipper]

Capitalism in it's present form in the US is not working for the majority of our citizens. We have been forgetting Smith's warning about the necessity of regulations and laws to prevent accumulation of wealth to the point of strangling competition, to the point of holding the majority of the population in an economic servitude. This article proposes a new morality for the Epstein class, and a greater share of the wealth for all citizens. It is not a rejection of Adam Smith's capitalism, but a reiteration of it in view of present technological advances and environmental challenges.

MSN

While I agree with this analysis, it’s outdated. The US economy hasn’t been capitalist in the sense Adam Smith outlined, for a long time. This isn’t a recent development.

Nearly all major industries today are controlled by one or very few major corporations. Competition is limited and effective government regulation is nearly nonexistent, since government is easily bought off or as in many cases, government protects big corporations.

 

[Mac1958]

Capitalism is the greatest force for wealth, prosperity, innovation and progress that the world has seen.

The problem is that we have so completely misapplied it that it is causing more and more people to consider a crappy, hopeless system like socialism as an alternative.

We've been begging for our own French Revolution for four decades now, and we may get it.

 

[Hafar1014]

Capitalism in it's present form in the US is not working for the majority of our citizens. We have been forgetting Smith's warning about the necessity of regulations and laws to prevent accumulation of wealth to the point of strangling competition, to the point of holding the majority of the population in an economic servitude. This article proposes a new morality for the Epstein class, and a greater share of the wealth for all citizens. It is not a rejection of Adam Smith's capitalism, but a reiteration of it in view of present technological advances and environmental challenges.

MSN

What you have wrong is who and what accumulates the wealth. Its the government.

 

[Hafar1014]

While I agree with this analysis, it’s outdated. The US economy hasn’t been capitalist in the sense Adam Smith outlined, for a long time. This isn’t a recent development.

Nearly all major industries today are controlled by one or very few major corporations. Competition is limited and effective government regulation is nearly nonexistent, since government is easily bought off or as in many cases, government protects big corporations.

What he has wrong is accumulation of wealth isnt the problem its where its accumulated. Its the government thats the problem. Waste fraud abuse and paying off supporters like we see in Minnesota and CA. Wealth in the private sector creates opportunity. Wealth in the government creates oppression. Look what Biden did after a massive expansion of government. He crushed the middle class and poor drove up prices and wrecked the economy

 

[Manonthestreet]

 

[Winston]

What you have wrong is who and what accumulates the wealth. Its the government.

That is a reflection on just how efficiently a small group of extraordinarily wealthy people completely highjacked the lessons of the Wealth of Nations.

For instance, search the definition of a free market. In almost every case the source will claim it is a market free of government interference. Adam Smith never said that, never claimed that, and always stated that government had a place in the free market, a need for regulation, an advocate for the weak against the strong. A free market is a market free from "rents". And until someone can come to a minimal understanding of what that means there isn't much to discuss.

 

[Hafar1014]

That is a reflection on just how efficiently a small group of extraordinarily wealthy people completely highjacked the lessons of the Wealth of Nations.

For instance, search the definition of a free market. In almost every case the source will claim it is a market free of government interference. Adam Smith never said that, never claimed that, and always stated that government had a place in the free market, a need for regulation, an advocate for the weak against the strong. A free market is a market free from "rents". And until someone can come to a minimal understanding of what that means there isn't much to discuss.

Take Minnasota as an example. massive fraud supported by he government. CA is even worse. The government is by nature a parasite

 

[Oddball]

Capitalism in it's present form in the US is not working for the majority of our citizens. We have been forgetting Smith's warning about the necessity of regulations and laws to prevent accumulation of wealth to the point of strangling competition, to the point of holding the majority of the population in an economic servitude. This article proposes a new morality for the Epstein class, and a greater share of the wealth for all citizens. It is not a rejection of Adam Smith's capitalism, but a reiteration of it in view of present technological advances and environmental challenges.

MSN

Given the undeniable fact that Murica hasn't had capitalism since 1913, the entire premise is nil.

 

[22lcidw]

Capitalism is the greatest force for wealth, prosperity, innovation and progress that the world has seen.

The problem is that we have so completely misapplied it that it is causing more and more people to consider a crappy, hopeless system like socialism as an alternative.

We've been begging for our own French Revolution for four decades now, and we may get it.

There are many factors affecting wealth. Other nations that are competitive is one. An enclosed system like we once were keeps it all here. China and other nations to a fair degree keep us living now. Since we ph uk with each other, there are plenty of Americans who care not of this and seek karma and even revenge internally. There is no perfect system. Just to degree of comforts. We are not there yet. And we have to make it to there before we turn the planet into a wasteland.

 

[Oddball]

Competition is limited and effective government regulation is nearly nonexistent, since government is easily bought off or as in many cases, government protects big corporations.

Competition is limited BECAUSE OF gubmint over regulation, not from a dearth of it.

All one needs to do is look at the massive regulatory protection racket that is the FDA to recognize that.

 

[MisterBeale]

While I agree with this analysis, it’s outdated. The US economy hasn’t been capitalist in the sense Adam Smith outlined, for a long time. This isn’t a recent development.

Nearly all major industries today are controlled by one or very few major corporations. Competition is limited and effective government regulation is nearly nonexistent, since government is easily bought off or as in many cases, government protects big corporations.

I definitely don't agree with that analysis. The only thing correct about it, is that the current establishment has no desire to "regulate," commerce in the interests of citizens, and pretty much hasn't since Teddy.

Today it "regulates commerce," to pick winners and losers, rather than letting the market do that.

That is one of the main reasons the founders drafted the constitution, to put controls on the system. Now the only controls are how much the system can place on the citizens, relegating them to property and resources rather than the agents that control the nation's destiny.




Ravi Chaudhry's analysis is naught but sugar coating technocracy, an love letter of apology to, "stake-holder capitalism," which would place even more controls on citizens, organizations, and nations than the current corrupt system has.

Nothing guarantees liberty like a free market. The government should only get involved to stop predatory practices and consolidation of the market. It should not partner with private enterprises to push an agenda under any circumstances.

Day 1: We Were Warned About Technocracy

This is Day One of my "Twelve Days of Christmas" series of articles, where I will reflect on Technocracy, Technocrats, historical and modern influences and future directions.

www.technocracy.news

 

[gipper]

That is a reflection on just how efficiently a small group of extraordinarily wealthy people completely highjacked the lessons of the Wealth of Nations.

For instance, search the definition of a free market. In almost every case the source will claim it is a market free of government interference. Adam Smith never said that, never claimed that, and always stated that government had a place in the free market, a need for regulation, an advocate for the weak against the strong. A free market is a market free from "rents". And until someone can come to a minimal understanding of what that means there isn't much to discuss.

The problem with capitalism is it often leads to corruption and atrocities, if uncontrolled. We’re living it today.

Capitalism, while producing considerable benefits for society, has a long history of terrible harms to individuals, minority groups, and the environment. The relentless pursuit of profit can result in terrible harm. Slavery is a good example. The mistreatment of labor by capitalists has a long history throughout the world.

The early union movement in this country reveals crimes committed against labor, often with the full support of government. Think of the coal mining battles in the late 19th and early 20th centuries.

A big reason why we have a large number of illegal immigrants in this country, is because capitalists demand cheap labor and government supports the capitalists.