Why Capitalism Is Failing

[jprad]

Quote from Random.Capital:

Capitalism, in the modern sense of the word, was never more than a mirage created by the discovery of cheap energy.

As that slowly ebbs away, so do the "inherent" advantages of "capitalism".

Disagree.

The post WWII industrial boom was not a mirage. It was real and it raised the standard of living for those who were part of it.

The mirage you're referring to isn't because of cheap energy, it was due to "cheap" credit that we've since found out to be damned expensive.

 

[StarDust9182]

To add to what Plyka says and to help me think about the future I make the following gross over-simplifications:

Government AKA democracy is socialism by another name. If government shrinks, socialism shrinks and vice versa.

The middle class is essentially the worker class (including unions). "Middle" is a politically correct description to hide the actual percentages.

The American Dream is to keep the workers working instead of thinking. And it is really a dream for most of us.

Debt is the new method of slavery since slaves have to be cared for. Debt slaves care for themselves mostly.

By the way, I did buy gold circa 2001 near the turn and sold it about four years later. I don't own any currently since I doubt it will save us this time. The powers that be will make sure that it will not happen in my view.

 

[TGregg]

Quote from Lucias:

On true principles: capitalism is based on an idea of unlimited resources. . .

Nope. If one must ascribe something like this to capitalism, then one would be closer to truth to say capitalism is based on the idea of scarce resources, not unlimited. Capitalism tries to allocate resources in the most efficient manner possible as determined by the free market.

 

[piezoe]

Quote from TGregg:

Nope. If one must ascribe something like this to capitalism, then one would be closer to truth to say capitalism is based on the idea of scarce resources, not unlimited. Capitalism tries to allocate resources in the most efficient manner possible as determined by the free market.

Nope. Capitalism and free markets are separate concepts. Capitalism does not require free markets. Capitalism has nothing to do with allocation of resources.

 

[piezoe]

Quote from Random.Capital:

Capitalism, in the modern sense of the word, was never more than a mirage created by the discovery of cheap energy.

As that slowly ebbs away, so do the "inherent" advantages of "capitalism".

I'm having trouble understanding this. But don't bother to explain unless you want to. I had always thought the chief advantage of capitalism was that it avoided the obvious disadvantages of having capital and the means of production in the hands of the State.

 

[Random.Capital]

Quote from jprad:

The post WWII industrial boom was not a mirage.

Never suggested otherwise.

 

[Random.Capital]

Quote from piezoe:

I had always thought the chief advantage of capitalism was that it avoided the obvious disadvantages of having capital and the means of production in the hands of the State.

When has that ever truly been the case?

"What's good for GM is good for America."

There is little difference between the state having the means of production in its hands, and the owners of the means of production have the gov't in their hands.

Same intersection, approached via different side streets.

 

[Random.Capital]

Quote from TGregg:

Capitalism tries to allocate resources in the most efficient manner possible as determined by the free market.

A very post-modern perspective.

 

[piezoe]

Quote from Random.Capital:

When has that ever truly been the case?

"What's good for GM is good for America."

There is little difference between the state having the means of production in its hands, and the owners of the means of production have the gov't in their hands.

Same intersection, approached via different side streets.

I understand your point of view now. Thank you.

 

[heypa]

Small capitalism good.
Large capitalism can get very bad.
Think about it.
The small must follow the rules.
The large can make the rules.