Capitalism: Scrap It?

[unkachuck]

When the capitalists crashed our economic system last fall the world nearly went bankrupt. Since then, most governments of the world have yet to find remedies for the capitalist crisis to which we still remain vulnerable. But maybe the problem is capitalism itself?

If capitalism is the most superior economic system to date, why is it repaired with socialism when it periodically fails or breaks? Is it time to invent a more fair and efficient economic system? Is it time to scrap capitalism?

[MrModerate]

1. Unbridled capitalism is as dangerous as unbridled anything else . . .

But "socialism" -- or direct worker ownership and administration of the means of production and allocation of resources -- is not what most commentators (and especially the wingnutariat) mean when they compare the two.

Both righties and lefties mean "government administration of major industries or service sectors." The only difference is the lefties think that's a good idea and the righties think it's devil spawn.

So my answer is "capitalism," given reasonable constraints on its excesses and greater government involvement in key sectors (like the funding of health care) in cases where the private sector is not the best choice.

[iamjoy]

2. Define Capitalism. Define Socialism

It is hard to say. Obviously our current system is flawed. I don't know that any others from now or the recent past are perfect either.

[Oregone]

6. Capitalism: means of production are owned privately. Socialism: owned publically

And there are mixed systems that contain a bit of each

[dysfunctional press]

3. regulate the fuck out of it.

and keep it the fuck away from the necessities.

[FredStembottom]

4. Regulated Capitalism.

All the innovation of capitalism - within common sense boundaries. America's best years, in which a large Middle Class grew were under regulated capitalism.

Rules akin to forbidding any of the bowlers in a bowling tournament from simply walking down the alley and kicking the pins over.

[Enthusiast]

5. Regulate it! Break up the monopolies,

all of the monopolies, including the telecom giants. Regulate the financial services industry to the extreme. Enact publicly financed elections to reduce corporate influence. Strictly limit any corporate gifts to law makers.

[nadinbrzezinski]

11. Adam Smith agrees, in the Wealth of Nations

he ranted and raved against them....

See... this is a classic example of what I mean. Monopolies are NOT capitalism

[Enthusiast]

14. Yup, one does not have to be

a communist to see what an unregulated mess this U.S.A. has become.

If we thought there was an uproar over health care reform just wait until they try to regulate the financial services industry. These corporations have taken over the nation. Democracy-gone.

[Oregone]

7. Destroy it

The right of one man's ability to profit off the labor of others should not be an inheritable right, if existent at all

[Romulox]

8. Why can't we have the same sort of democratic socialism that Europe has?

By which I mean a mixed economy with robust government controls?

Are we "too free" to have a decent society?

[nadinbrzezinski]

9. You cannot scrap what you do not have

I keep saying this, language matters, but what we have ain't capitalism... it is fascism.

And if people bothered readying the Wealth of Nations they'd quickly realize why.

Hell, the Sherman Anti Trust is at the heart of classic capitalism... chew on that.

When we have actual capitalism, wake me up

[Toucano]

10. The capitalist model is based on erroneous data.

It completely fails to take into account human nature and greed.

The economic "laws" it describes are bogus.


Many capitalists say that socialism fails to take into account people's desire to "own things", but that is a misconception.

The desire to "own things" is not human nature at all, but a product, a condition, if you will, created by suffering under the capitalist lie.

[bridgit]

12. Capitalism? Ya'mean like 'free market' capitalism? America should give it a try see how it goes

Who knows, it could be the way to go :thumbsup:

[BlooInBloo]

13. I like how you didn't include "regulated capitalism". The best way to make sure no-one chooses it.