The problem seems to me to be that in pure Capitalism 1% of the people own 90% of what's going - stuff the other 99% whereas socialism is kinder but bankrupt Maybe it's about time someone came up with a better system ?? ANYONE ????
I think the system you describe below is called socialism of the capitalist. This is a system where true market capital opportunity is in the hand of a few who control the govt and monopolize the whole economy. I think Capitalism is only visible in the books..................just as communism used to be. What is more creative is to see all this ###### done in the name of CAPITALISM. And as our great president GWB said: we must abandon capitalism in order to save it. AWESOME.
Oh, give us a break! Everybody in the world recognizes GWB as a self-serving, lying IDIOT! (and NO, I'm not a DemoCrap... I disdain NObama even more than Bush, if that's possible.)
Up until now, EVERYBODY IN AMERICA had the potential to become successful and rich. THAT has been "the American way". Once NObama gets his Socialistic BS programs ingrained into the Federal budget, that will no longer be the case. We'll all be equally miserable... but unfortunately hardly anyone will recognize it until we're all queue-ing up for our ration of potatoes and toilet paper...
Humpy.... I share your sentiments.... And....it is very important to guard capitalism by being to offer examples of success....not failure.... ...................................................................................... Firstly.....Capitalism cannot be "unregulated"...because it is a "man made" not natural phenomena.... Regulation should guard the underpinnings of capitalism....such that one does not have days like today.... .................................................................................... Wealth distribution..... One gains pride by ownership in the shares of one's company....It should be a mandate that one owns shares of the company to which one dedicates a good portion of their lives....which can be given to their children.... Share ownership instills responsibility....and rewards good performance.... ....................................................................................... A new world wide exchange must be established and setup such that information and access is available to anyone who can logon to the internet.... Regulations need to be imposed to improve and guard the finest form of capitalism on earth.... Universal accounts whereby one can access all stocks ....debt securites of the world....including cds....available in the language of choice....with a broadbased equalizing boilerplate information facility.....would be the centerpoint of capitalism.... A true universal account enabling one to decide which set of politicians one trusts with their currency ....would keep government "in check"..... If one does not like one's currency...or one wants to diversify currencies on a cash basis....one presses a few buttons while viewing one's account.... Here is something a socialistic cd cannot do..... Go from $10 to $20 in a few months because the people that form the company are doing a good job.... And what is most important....is that when legal largesse is largely eliminated....is the most efficient form of capital in the world.... And most importantly....is the best way to reward work....and provides the best means for the valuation of assets.... However make no mistake....a "man made process"....has to be "properly regulated"....
I must agree that capitalism "being man made" needs supervision and constant check. However, I do not think that is the system we have in place at the moment. Private property, markets, buying and selling ARE NOT Necessarily CAPITALISM.
Socialism is NOT kinder. In socialism, the government owns everything and a small percentage of people who run the government gets to decide who gets what. How is that kinder? That seems much closer to 10% of the population controlling 90% of the assets and if the population is unhappy, they can stuff it. I speak from experience as I'm from a socialist country. Interestingly, the concept that 1% of the population will own 90% if all assets in capitalism is straight from Karl Marx. However, for that to happen, people have to stop innovating and starting new businesses. If that happens, eventually everything will become a commodity and monopolies will form. That hasn't happened because people innovate all the time and new businesses pop up and create new wealth which obviously means that wealth never has a chance to become concentrated. Incidentally, "capitalism" was derogatory name coined by socialists to define what happens when you leave people alone. It's not an economic theory hatched and imposed by man. The bottom line is that
Gnome, Obama and GWB are like FDR and Hoover. Obama will simply expand on the disastrous socialist policies that GWB started just as Hoover provided all the foundation for FDR to build the New Deal which kept the depression going for over a decade.