Top 3 Common Myths of Capitalism

clevergirl

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[ame=http://www.youtube.com/watch?v=KGPa5Ob-5Ps&feature=player_embedded]Top 3 Common Myths of Capitalism - YouTube[/ame]
 

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Great Video.

One of the things that I deplore in today's world is how it is difficult to see where big business ends and government begins.

My own company has a large vested interest in the government going in certain directions and we profit from it in many many ways.

I would also say that the governments past (and present...unless things have changed) ownership of GM is a clear example of this.

Why didn't they let it fail ? That is what capitalism is about. The weak get weeded out.
 
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code1211

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Great Video.

One of the things that I deplore in today's world is how it is difficult to see where big business ends and government begins.

My own company has a large vested interest in the government going in certain directions and we profit from it in many many ways.

I would also say that the governments past (and present...unless things have changed) ownership of GM is a clear example of this.

Why didn't they let it fail ? That is what capitalism is about. The weak get weeded out.


The government's involvement in the bail out was to save the UAW. Saving GM was only a by product of this.

There are few things done by the Big 0 and his cronies that cannot be traced back to propping up some union somewhere.

Even the most recent infomercial for the Jobs-O-Matic contained the promise to add teachers to the dues paying union membership rolls at the expense of other tax payers WITH NO STIMULATIVE EFFECTS FOR THE ECONOMY AT ALL.

Perhaps the most corrupt and corrupting administration in history. Have any unionized guitar makers been raided? Do they buy their rose wood completely finished by foreign workers instead of Americans which is why the Gibson company has been shut down.

What a farce these idiots are conducting.
 

code1211

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For thos who don't want to watch the video: The three myths stated:
1. Capitalism is Pro-business.

It's not. Capitalism forces competition and pits one business against another. Capitalism regulated by government is probusiness in that it helps to rig the system and chooses winners and losers absent market forces.

2. Capitalism creates an unfair distribution of wealth.

It doesn't. The simple and obvious truth is that some people are worth more than ohters; more talented, more energetic, smarter and so on. Capitalism is brutally fair in distributing wealth.

3. Capitalism caused the recent recession.

It didn't. the recent recession is the result of regulated lending policies that created incentives to lend to those who would not repay. Capitalists participated in the scheme and so contributed toward the disaster, but in terms of cause, the government caused it.
 
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clevergirl

clevergirl

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Great Video.

One of the things that I deplore in today's world is how it is difficult to see where big business ends and government begins.

My own company has a large vested interest in the government going in certain directions and we profit from it in many many ways.

I would also say that the governments past (and present...unless things have changed) ownership of GM is a clear example of this.

Why didn't they let it fail ? That is what capitalism is about. The weak get weeded out.
Precisely! The government deals in crony capitalism- true capitalism is the engine of hope and dreams that are realized through sacrifice; hard work; and ambition.
 

Truthmatters

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Where has unfettered caplitalism EVER produced what you claim in the real worlds history?
 
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clevergirl

clevergirl

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Where has unfettered caplitalism EVER produced what you claim in the real worlds history?
You know, part of what makes you a PITA, is that you don't quote the person you are responding to when you ask a question. If you are just making a statement it's OK to not quote- not when you ask a question! I will guess that you are asking me.

In answer to your question. The first 200+ years of this nation...DOH!
 

Truthmatters

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I guess NONE of you can provide the time in history when things worked like you unfettered capitalist claim.

That is because it doenst exsist.
 

Truthseeker420

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Myth 1. Business hire on on tax policy
Myth 2. Business hire on how much money they have in their pocket
Myth 3. Business hire on the amount government regulation

Summary: Reaganomics/Trickle Down GOP economics is a myth

Truth is business hire on production needs.
 
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code1211

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I guess NONE of you can provide the time in history when things worked like you unfettered capitalist claim.

That is because it doenst exsist.


Who has endorsed "Unfettered Capitalism"?

There is a continuum between complete government control and ungfettered Capitalism. The choice is not one extreme or the the other. The choice is how much strangulation can business tolerate before it ceases to grow?

Obviously, where ever that point on the continuum might be, we have passed it. Businesses are not growing. Start ups aren't happening.

The threat of interferance from the government and that reality of interferance from the government are now sufficient to stop everything.

Reagan defined the policies of democrats like this: If it moves, regulate it. If it keeps moving, tax it. If it stops moving, subsidize it.

As I understand it The Sham-Wow Jobs Plan is to tax those things that move and subsidize those things that don't. The Democrat party, it seems, has not had a new idea in more than thirty years.
 
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Bfgrn

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Great Video.

One of the things that I deplore in today's world is how it is difficult to see where big business ends and government begins.

My own company has a large vested interest in the government going in certain directions and we profit from it in many many ways.

I would also say that the governments past (and present...unless things have changed) ownership of GM is a clear example of this.

Why didn't they let it fail ? That is what capitalism is about. The weak get weeded out.
Because at that time, the economy was in a free fall. This nation was shedding jobs at 3/4 of a million per month. IF the domestic auto industry went down, it would have wiped out about 3 million jobs. Not just GM and Chrysler, but thousands of small businesses that are suppliers.

American workers who pay taxes and buy goods and services would have ended up on the public dole. Foreign manufacturers with plants in America would have been shut down because they rely on the same suppliers as domestic manufactures.

People were NOT BUYING CARS.
 
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PoliticalChic

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Where has unfettered caplitalism EVER produced what you claim in the real worlds history?

Great question!

Great answer:

From a speech delivered by Rev. Robert A. Sirico, President, Acton Institute for the Study of Religion and Liberty.
https://www.hillsdale.edu/news/imprimis/archive/issue.asp?year=2007&month=05

1. In its modern beginnings, socialism was optimistic and well intentioned, without the overlay of its contemporary varieties that tend to bemoan prosperity, romanticize poverty, and promote a view that places individual rights as a secondary concern. This is to say that the earliest socialists sought the fullest possible flourishing of humanity, that is “the common good”.

2. Marxism rested on the assumption that the condition of the working classes would grow ever worse under capitalism, that there would be but two classes: one small and rich, the other vast and increasingly impoverished.

3. As far back as 1890, English Marxist Eduard Bernstein began to observe the positive effects of capitalism on living standards, and that the reality was that the numbers of the rich were growing more rapidly than those of the poor, while the vast majority was falling into a category that socialism didn’t anticipate, the middle class.

4. Becoming aware that the moral argument for socialism was wrong, and that capitalism actually benefitted society and served the common good, did Bernstein abandon his ideology? No, he did not. He merely changed his tactics. While still favoring the expropriation of capitalists, socialists now plod on through the use of political mechanisms rather than revolution.

5. . Marxism rested on the assumption that the condition of the working classes would grow ever worse under capitalism, that there would be but two classes: one small and rich, the other vast and increasingly impoverished, and revolution would be the anodyne that would result in the “common good.” But by the early 20th century, it was clear that this assumption was completely wrong! Under capitalism, the standard of living of all was improving: prices falling, incomes rising, health and sanitation improving, lengthening of life spans, diets becoming more varied, the new jobs created in industry paid more than most could make in agriculture, housing improved, and middle class industrialists and business owners displaced nobility and gentry as heroes.

6. . These economic advances continued throughout the period of the rise of socialist ideology. The poor didn’t get poorer because the rich were getting richer (a familiar socialist refrain even today) as the socialists had predicted. Instead, the underlying reality was that capitalism had created the first societies in history in which living standards were rising in all sectors of society.
 

Quantum Windbag

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Where has unfettered caplitalism EVER produced what you claim in the real worlds history?
Where has unfettered capitalism, which has never existed, ever produced what you claim in the real world's history?
 
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Bfgrn

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So, Grn, what do you think this graph communicates?
That the stimulus package worked...magnificently...

Your graphs don't surprise me at all...

Aughts were a lost decade for U.S. economy, workers

Washington Post
Saturday, January 2, 2010

For most of the past 70 years, the U.S. economy has grown at a steady clip, generating perpetually higher incomes and wealth for American households. But since 2000, the story is starkly different.

The past decade was the worst for the U.S. economy in modern times, a sharp reversal from a long period of prosperity that is leading economists and policymakers to fundamentally rethink the underpinnings of the nation's growth.

It was, according to a wide range of data, a lost decade for American workers. The decade began in a moment of triumphalism -- there was a current of thought among economists in 1999 that recessions were a thing of the past. By the end, there were two, bookends to a debt-driven expansion that was neither robust nor sustainable.

There has been zero net job creation since December 1999. No previous decade going back to the 1940s had job growth of less than 20 percent. Economic output rose at its slowest rate of any decade since the 1930s as well.

Middle-income households made less in 2008, when adjusted for inflation, than they did in 1999 -- and the number is sure to have declined further during a difficult 2009. The Aughts were the first decade of falling median incomes since figures were first compiled in the 1960s.

And the net worth of American households -- the value of their houses, retirement funds and other assets minus debts -- has also declined when adjusted for inflation, compared with sharp gains in every previous decade since data were initially collected in the 1950s.

 

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