It could be very good or very bad... The Utopian Edition I envision a technology based society in the "good sense" sorta like Star Trek. Capitalism in itself is not bad per say but today have "creditism" where those with credit can get access to technology to enrich themselves. I envision dividing society into 3 spheres: private, public, and open society. Open society uses the organizing principles of open source and peer-to-peer technologies to create technology in a distributed, non localized fashion. Governance could also be managed by using such technology. The primary of society as a whole is to enable man to develop his technology. The technology could be art, music, math but the primary goal is to keep man at full production. It doesn't mean he has to work all his life but that he should be enabled to work toward his creation. In this holistic view, there is no longer any incentive to do away with automation and maximum productivity. The drive for artificial scarcity on the side of the producers and the drive for artificial labor on the side of the unions are both resolved at once. The Totalitarian Edition In this scenario, the Elite, Crony Capitalist, and powerful hijack the technology for sinister purposes. They use fears/concerns of global warming and world over population to control every aspect of mans life. Technology is used to control and enslave man. Man is no longer able to create useful technology. The ultimate evil..
You have capitalism and free markets all jumbled up in your mind. You want free markets, and you want the government to get out of your life. Sadly what you want, except perhaps in a very small and homogeneous country, is contradictory and impossible. If you want free markets, and by far the best environment for free markets to thrive in is a capitalist one, then you must have a strong regulatory presence, i.e., government. That government in the U.S.A. has failed to provide enough of the right kind of intelligent regulation of capitalists to preserve free markets does NOT mean that you can expect to have free markets without government intervention and control. You can't. What's happened in the U.S., of course, is that the capitalists, because of a defective U.S. Constitution, have been able to use their capital to control government and bend it to their own devices. Capitalists naturally want to lay waste to their competition, run rough shod over labor, and accumulate as much capital as possible. This is as it should be -- show me a capitalist that is concerned about "business ethics" taking care of the "little guy" and seeing to it that their competitors have free access to the market, and I'll show you one lousy capitalist! Was not it Rockefeller that said "competition is a sin."?
No, you are playing with yourself... Capitalism is a philosophy, just like socialism. Philosophies do not fail. The systems that apply them fail. Capitalism was never applied correctly, just like socialism. The politicians who tried to apply capitalism failed the same way socialist fail. Essentially, what has happened around the world is that capitalist politicians were trying to steal socialist votes by apllying socialist politics and socialist politicians were doing the reverse with capitalist votes. The result you see it today... Now, you may continue playing..satisfaction quaranteed...
What you learned 50 years ago doesn't apply today. Why don't you quit and go enjoy your retirement fishing or playing golf with other gold bugs like you?
This makes me compelled to quote Dick Cheney's response when an interviewer pointed out to him all the lives lost and innocent victims maimed in Iraq. To which Cheney responded: "So"
you ask a question because u didn't know which is ok. you received a response. my guess is that you didn't make an effort to determine its validity. I suggest u read a financial history of the US. care to explain why u are chuckling?