With the exception of disabled people or veterans, this economy needs to be merit based in order to function properly. I noticed the government whether its state or federal passes bills that disregards merit and hard work which of course leads to failure. Capitalism is the best system but when its injected with ideology it turns to socialism and disrupts our capitalistic economy that is the best in the word. Capitalism breeds innovation.
Why should veterans be excluded? At least those who volunteered to serve? It's not like the war monger machine does not take very good care of its executors in generous ways, at least in the past 3 decades. All on the tax payers' dime. And how is it the BEST in the world when you are lagging in almost every metric that measures quality of life?
also not sure why Veterans are an exception. If you’re looking for confirmation bias, may I point you in the direction of Atlas Shrugged and the Foundation?
If we are “ lagging in almost every metric” then why the hell are millions of people trying to come into our country every day ?? Why arent millions of Americans moving to finland, china, england, canada, africa and mexico??? Your statement is a bunch of nonsense.
Most of our politicians these days are part of the swamp. They exist only to enrich themselves despite, what they tell the gullible public. Capitalism as we know it, is long dead in the US. What we have now is crony capitalism. You can commit any crimes as long as you are politically connected to the right people. Also, go bankrupt due to excessive risk taking and not have to worry about being bailed out? If celebrities and elites with strong Democrat Party ties with Silicon Valley Bank, did not have their monies in said bank, would it have been bailed out courtesy of US taxpayers? Of course not.
The US economy is a "mixed economy" meaning that there are public and private domains. Capitalistic economies have two key features: price discovery through market clearing and property rights. These exist in the US. Policies to encourage greater engagement, to improve access to education, and access to resources increase the size of the potential GDP. For example, if you had a percentage of your population that did not work, but you enacted policy to encourage them to do so, you expand your GDP. This is an economic reason to support minorities, disabled, etc., because they might underwork today due to stigma and if that stigma is removed, we could see more engagement from them in the labor market. People who criticize "progressive" policies are inherently anti-capitalistic and instead, tend to be patriarchal. Ultimately, this means that you want people who act and look like you to win, and for others to lose. This ends up contracting potential GDP. This is an economic reason to be against anti-immigrant policy, anti-education, or discriminatory practices. At the same time, policies that remove property rights or obscure market pricing, also result in a smaller potential GDP. Both sides of the political spectrum end up in a poorer economy. Stay in the middle.
Is it a capitalist economy if banks are not allowed to go bust? Bankers can take risk and get bonuses but there is no downside.
We used to have a Capitalistic country, before the FED. But since the inception of the FED (1913), we have morphed into a new system: "Creditism" Capital is not so important now. And capital can become scarce, which translates into lower tax receipts to the Treasury. The expansion of credit by the banking system is all that matters. (Fractional Reserve Banking) *** Capitalism is very robust. Similar to trading in a cash account. Creditism is not very robust. Similar to trading on margin. The recent three bank failures are examples of creditism.
In competitive industries where $ matters it's entirely merit based. My industry automated, consolidated, and everyone left looks the same.