Just playing with some ideas here.. Capitalism is failing because the people have figured out it was all a game. The people have learned that the rich aren't generally smarter and harder working then the average working man but only "smarter at working the system'. All the while, the filthy rich have grown tired of "stealing honest". It seems that many of the greatest downfalls have came because someone decided they should get to be the bank -- Enron, FullTilt Poker, and Mf Global all come to mind. Why does everyone want to be the bank? Ah, because its a license to print money. The filthy rich have said to themselves, "We're stealing money left and right. But we have to follow these stupid rules -- why can't we just steal outright? -- after all its just a game!". The masses also are growing angry, "Why do we have to work when money is just a game !! Why don't we just take the rich mans money?". The reasons for these attitudes indeed originates from fiat money but it also comes from capitalism's success. The modern man no longer has to work on the farm to survive. He had time to pursue other activities -- made up activities. While the ethical and moral pinning of capitalism have been laid hollow, more importantly large numbers of people are unemployed and without a system that enables them to use their productivity to maximum extent in the arts and sciences -- the net result is that capitalism isn't pushing us toward our primary goal as a species which is the development of useful technology whether that technology be a piece of art, clothing, drugs, or new computers. The end result is that we see the endings of capitalism. Man always has found a way to serve his ultimate purpose though and the next form that will develop will likely be a technology based society where man's real purpose is presented without the dogmatism of previous generation: Create. Make useful technology. And this will have been made possible by technology and by capitalism.. a stepping stone toward the technological society.
I enjoyed reading it. I told my kids to be the bank earlier today when we walked into a chase branch to deposit some money.
It is a failure of capitalism within a democracy. As I posted before: Someone once said "A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years." and the weak political system comes from the fact that they are beholden to the voters.
I hope to read some deep thinking over the weekend on this thread! Couldn't it be said that maybe it isn't capitalism that is failing but our republic has failed us with rampant cronyism and regulations that aren't focused where they need to be. Is capitalism becoming an evil word because of the growing wealth gap? Could one of the reasons for the wealth gap be that rich people have fewer kids and poor people have more. Therefore wealth becomes concentrated as it becomes passed on to fewer and fewer heirs. Mean while you've got shit loads of poor kids that get nothing passed on plus if you're born poor it's a lot fucking harder to get into a position of building wealth especially now a days when high paying manufacturing type jobs don't exist. All this pontificating is probably a waste of energy. Lets just barter I'll trade you some of this Jack Daniels Honey for a few hits from your bowl have a great weekend.
There is no "ethical" or "moral underpinning" of capitalism. Capitalism is simply an economic system where capital and the means of production are in private hands. It has nothing to do with ethical, moral, or free markets. Capitalists are reviled by the very idea of free markets. Whether capitalists act ethically or morally has nothing to do with capitalism per se. The form capitalism takes will depend on whether or not there is a disinterested referee present, such as a government, to keep "crony capitalism, corporatism, or corporate fascism, at bay. Because of human nature, these are the unseemly forms that capitalism will take if left to its own devices, such as for example under what is referred to as "laissez faire capitalism" which becomes dominated by cartels and monopolies.
I would strongly disagree with this if you are referring to the U.SA. In the US., capitalism has been perfected to a greater extent then in any other country in the history of the world. If there is a failure, it is the failure of democracy, not of capitalism. The U.S. is a thoroughly capitalist nation. Perhaps it is not the form of capitalism you had hoped for.
Agreed. American capitalism worked great for over 500 years, ever since Columbus sailed three ships to the new world as America's first "adventure" capitalist. What followed was the formation of a nation that produced the greatest economic and technological expansion in the world's history. However, something pivotal happened around the turn of the last century. Get rid of the federal reserve, fiat money and fractional banking system and you'll get rid of boom bust cycles created by cheap money. You will be left with a capitalist democratic society that can last another 500 years. I think I first saw this video seven years ago and watching this video was like taking the red pill and getting out of the Matrix for me. I'm not a gold standard guy but there are alot of good arguements made. It should be required viewing for every college student. I think it can shed light to many on what is wrong with the current system. <object style="height: 390px; width: 640px"><param name="movie" value="http://www.youtube.com/v/iYZM58dulPE?version=3&feature=player_detailpage"><param name="allowFullScreen" value="true"><param name="allowScriptAccess" value="always"><embed src="http://www.youtube.com/v/iYZM58dulPE?version=3&feature=player_detailpage" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="360"></object>
world supply of gold pr yr around 165 billion, we got 250 trillion in derivitivies, how ya gonna cover that? We dont have capitalism, we have crapitalism. Big difference. Russia is purchasing 4 aircraft carriers, france is gonna sell it to them. Where the hell is our salespeople? We cant keep Americans working? Plus it would have to go thru congress for approval. Those cats just worked 3 days on God we trust bill. I mean most of em are around 400 years old so we cant expect much from them. Every state in the union hates capitalism. Oh we gotta regulate who sells alcohol, tobacco etc. Now on this board we say if the Free Markets demand it, the free markets will provide it. That explains prostitution, illegal gambling, illicit drug markets. But in the nation, we hate economic freedom. Choice. Liberty. In the nation a republican will tell you he/she wants govt out of his business. A republican will gladly tell you how big your bathroom has to be in your abortion clinic, or outlaw internet gambling. Oh yeh, thats the party of "free markets" talking. Democrats any better? In the words of john boehner "HELL NO". Democrats in jersey outlawed smoking smokeless cigarettes in public places like movie theatres. Why? Just the sight of a smoker drives them crazy. How dare you smoke, even water vapor in my presence. I am offended. We DONT have capitalism, we have CRAPITALISM. You cant purchase a belt in walmart on sundays in south caroline til after 1pm on sundays, lots of places you cant purchase alcohol, cars, real estate, conduct banking, purchase insurance, purchase motorcycles and hundreds of other items on SUNDAY. Our nations buffons in chiefs in the state capitals think they know best how and WHEN to conduct commerce. People pay great lip service to FREEDOM but loathe what YOU do with it. They are easily offended by you wanting to purchase a belt on sunday at walmart, how DARE you. Both major parties loathe and despise freedom, plain and simple, we have NEVER even tried capitalism. We wound up with Crapitalism and thought it was capitalism. NOW is the time for economic freedom and liberty to ring free, take off these shackles you have put on us, let us run and see what we can accomplish. Can we TRY capitalism NOW, Huh, CAN WE?
One point I try to suggest is that "we" (western countries) have became so wealthy that it someone really could steal millions (from the masses distributed equally) and it wouldn't even go noticed. It happens all the time, actually. And maybe this is notion that the really smart people have started to embrace, i.e the guys at Enron, MF Global, Fulltilt Poker. The guys at Full Tilt could make millions just from the rake. But it wasn't working fast enough. They go to point where they said: Hell why not take all the players money now sense we know that most will go broke anyway? What happens when a stock or market finally collapses? Typically nothing materially new is learned but what happens is there is a change in perception. There may have been selling and a downtrend but that final moment is all about the perception. In the same way, the dollar has been in decline and capitalism has started to lose favor with the people. We are all products of our culture. What is real to us is what is familiar. Imagine if most of us were born in an Islamic theocracy that many of us would take that as our way which is completely foreign to us (as Westerners) and yet probably about the same percentage would be happy. In order to know what is true, we have to look at the postulates of the claims and see if they are true. Capitalism is based on the principles of unlimited growth and unlimited resources. The underlying unstated goal is that material stuff produces happiness. Fundamentalism is based on the principles that following a strict set of rules will save one from a terrible hell. ----- Some in Islam view Westerners as slaves. Slaves to our culture. Slaves to our fantasies. They have a valid claim but they are also slaves to their culture. They are slaves too. You see we are all slaves to one set of beliefs or another. Is it true that having more and more money produces more and more happiness? The science indicates that yes it is true up to an extent an the extent tends to be around $75,000. So, yes having money does produce more happiness but only to an extent. Is it true that following a strict set of rules will result in one avoiding a terrible hell? There is no evidence for that. World wide most people are therefore operating under false beliefs -- at some level. What is true then? What is true is that man always been a tool builder for thousands of years and these tools have given man ability to live in a better state then his fellow animal. Man is happiest when he creates in mind and body. And, those technologies that benefit mankind are much appreciated and have lasting value. It isn't capitalism that has pull man up from the mud but rather technology. Capitalism has in-built a desire to keep unemployment higher then zero. Yet, we know as a people we are most benefited when all people are contributing to our technological advancement. Capitalism states we need to create tons of junk and we are finding out that we do have limits to the amount of junk we can create. We come to a point where extremes exist. A point where maybe a child or a young teen has a curable health condition but will die because they lack the money to pay for treatment. Regardless of what anyone believes, I don't think anyone desires to live in that society. Where is man going? He's going where he's always gone: toward his ultimate purpose and where technology will finally be recognized as the true creator of wealth where dogmatism and crony capitalist are surrendered. After the crash of 1929, there was a move toward creating a technological society. It proved a false start and there were fears of elitism. I'm look at like we are in a similar place today where extremes of communism and fascism will soon be upon us. And we have that other option, that option that accords more closely with reality.