crony capitalism and the end of the american dream

Discussion in 'Economics' started by zdreg, Jun 13, 2012.

will crony capitalism make the US poorer

  1. yes

    16 vote(s)
    88.9%
  2. no

    2 vote(s)
    11.1%
  3. don't know

    0 vote(s)
    0.0%
  4. don't care

    0 vote(s)
    0.0%
  1. zdreg

    zdreg

  2. zdreg

    zdreg

    perhaps we should make a list of stocks that will benefit from crony capitalism.

    this book suggests we need sound money to bring back the american dream.
    http://www.cnbc.com/id/47322877
     
  3. Jai

    Jai

    Ugly thoughts parked in by the so-called benevolent Governments and crony Corporatist are far amateur to handle the splendid ideology i.e. Capitalism. In this context, I feel what Ron Paul had to say - ''Capitalism should not be condemned, since we have not had capitalism". To add further, he'd to say "A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank". However, the beauty of Capitalism can be explored happily when not viewed and implemented from the constructed grimace smile : http://mises.org/daily/1535/Capitalism-Happiness-and-Beauty

    :)
     
  4. zdreg

    zdreg

    "I feel what Ron Paul had to say - ''Capitalism should not be condemned, since we have not had capitalism".
    capitalism reached a tipping point with the bailouts to the point where it cannot be called capitalism.

    those people who have nostalgia for communism express the same thought as ron paul while substituting the word communism.
     
  5. plyka

    plyka

    Crony capitalism is just another form of socialism (the fascist or corporatist variety). Lenin just went straight to socialism. Even if you're right (i say you instead of lenin, cause i'm not sure that lenin said capitalism would move to crony capitalism) that capitalism always goes to crony capitalism (otherwise known as the right wing of socialism, fascism/corporatism), at least there is a stop off at capitalism/free markets so the society can get rich and prosperous enough to sustain and support the socialism which is to come.
     
  6. plyka

    plyka

    You're actually right in the sense that both sides say "but that wasn't "true" communism/capitalism. And both are technically correct. You don't ever have a pure form. Where they differ is that history has shown that the closer a society is to capitalism, the richer more prosperous and happier a society is, while the closer they are to communism/socialism, the poorer, more destitute and depressed a population is.

    So basically what i'm saying is that you are correct on this small, irrelevant, insignificant and worthless technicality which does not affect in any way whatsoever the realities of the situation. You're observance is so insignificant that if i didn't get entertainment value out of responding, it wouldn't have been worth the few seconds it took to respond.
     
  7. piezoe

    piezoe

    Sadly, history, so far, does not show that at all. Communism in the soviet union did not end well. Communism in China --well, the verdict is not in yet -- Socialism in some small Scandinavian or Western European countries looks pretty successful at this point, but who knows what time will bring. Capitalism in the West is not looking so hot at the moment.

    No definitive conclusion so far. Looks like all these are subject to corruption and failure. Nothing foolproof. The jury is still out.
     
  8. Crony capitalism and lack of free markets are what built America.

    I wouldn't sweat it, it's never been the problem.
     
  9. piezoe

    piezoe

    A long standing close friend who is now an internationally known environmental economist told me this story about his childhood days. His name is Joe.

    Joe's grandmother was an immigrant and a communist. She thoroughly indoctrinated young Joseph. One day, in the first grade, little Joe's class had a guest come and give a talk on the lofty principles on which the American Republic was founded. At the end of the guest's presentation, the teacher stepped forward to ask the class some questions to see how much they had learned.

    So the teacher says, "Now who knows what principles our country is founded on?" Little Joe's hand is the first to pop up and he shouts "I know, I know!" Teacher says, "Yes, Joseph." But the answer that pops out of his mouth is not the anticipated one. Instead little Joe answers: "Cheap Labor!"

    Having now thought about this for some years, I'm inclined to think that little Joseph was right.
     
    #10     Jun 15, 2012