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Let's Just Admit It: Capitalism Doesn't Work


#24

Why is that a tragedy? We can learn from the past , and when you grow up in a certain period- that is normal to you as I said. We can learn from the past as we have before through our ancestors. When any system falls out of control to corruption this is what happens. This is not the first time inequality has taken place and it won’t be the last. I wanted to also say something: Many people have emigrated to the US or have been refugees and are quite happy just to be able to be safe compared to what they experienced previously.


#25

Yes, but tell a veteran that especially one who is disabled. The tragedy also is that the MSM barely mentions the soldiers or veterans anymore except when it is convenient ( such as Veterans Day). Remember while the soldiers were out fighting or stationed overseas, Wall Street betrayed them and crashed the economy of the country which they were protecting. Still happening. Personally, I think all people who are physically and mentally able should be doing some kind of service at least once a month such as cleaning up the environment or helping the elderly. Some people do this anyway, but this country needs a common cause again not just individual units of people doubling down on each other. I brought this up to congress ( as I have for the last twenty years) and all I got was " Keep volunteering. That’s nice."


#26

Also, think about this: If you are doing well or at least okay in life - you have your needs met- then capitalism is working for you. You might not like the results of the general intentions of it- but let’s face it- too many people are scared of change especially if it has worked for them. And too many people pin their hopes on the future of change without having any idea of anything positive coming. Personally, as one poster said several years ago- no more class system labels- we all need to be working as a climate change class!


#27

On the other hand . . .

So apparently Mother Nature needs something new to save what’s left of Her planet from five or six (actually more like ten or twelve) generations of over-breeding and greedily over-consuming humans.  Whether exactly contemporaneous or not, it appears that both Malthus and the Luddites were right.  Maybe Tweetle-Dumb and Little Rocket Man will provide the answer to too many humans.  Unfortunately for Mother Nature, a big thermo­nuclear war would not just cut down on the number of humans, it would also severely damage the remainder of Her Creation.     Except maybe – as many scientists predict – the cockroaches . . .


#28

Most ( 94% ) of the severe poverty reduction for the entire planet from 1980 to 2010 occured in one country, China. Which also aligned with its one child policy. And, now they have the largest GDP, too.
It’s literally given new meaning to the term, a planned economy. But, it was about a 50-50% mix of state and private enterprises. And, of course, other gov’t policies. But, all in all, they’re blowing the doors off of the Neo-Liberal and Chicago School theory. Funny!:wink:


#29

And the word missing from this article is “socialism”

Until we understand what that is, then we will be burdened with some sort of version of capitalism


#30

there’s a way to keep this remarkably simple:

capitalism might be the best system of wealth creation in human history. That’s a pretty defensible statement.

Capitalism might also be the very worst system for distributing that wealth. That’s an even more defensible statement.

One thing capitalist media persistently avoids is discussing both components of wealth–they love talking about its creation. but almost never its distribution.


#31

The size of the derivatives market might very well be 20 times global GDP (that sounds about right), but since world GDP is about $80 trillion, that would put the derivatives market at $1,600 trillion ($1.6 quadrillion) not $1.2 trillion as the article states.

Also, that $1.6 quadrillion IS NOT, as the article states, the “value” of that market. It is the approx trading volume for one year.


#32

Yes, the linked chart that Atcheson cites does not say 1.2 trillion, it says 1.2 quadrillion.


#33

Thanks, Ann. Its true. And Jack Ma has a plan with Alibaba to put the competition back into China’s capitalism by making it easy for small businesses to advertise and sell online cheaply and well. China builds roads, schools and hospitals, instead of war. Relatively speaking.

However, it is difficult for anyone anywhere to understand the ecology of a forest, or a jungle, or an ocean if they live in a giant city.

China does understand pollution and is brimming with electrical vehicles and trains. Dirty factories are closing and solar is coming. I see more sunshine this semester. Speaking from a university in Sichuan.


#34

Darn Lrx, looks like Atcheson slapped Corporate State Democrats upside the head, and that pisses you off.

Bummer dude.

Cluck.

Perhaps Clinton has the answer, you should ask her. I mean, she should be able to afford an entire think tank seeking answers to this incredible situation of historic economic disparity. How could she afford it? Speech money, that’s how.

A cool, rather uncool 22 million.

You know how much money that is? Let me help you wrap your head around it, okay?

Let’s say she spends one dollar per second 24/7 setting up that think tank…

That would be 86,400 dollars a day, for 286 days.

She loves the little people.


#35

A book was published maybe 30 years ago called “Innumeracy” that asserted a major problem with economic policy in a country with such a staggeringly large economy, is that most people just have no idea what large numbers represent.

The author makes his point by citing rather simple examples to make such a grasp of these huge numbers easier.

Such as, it takes roughly 13 days for a million seconds to pass, but 32 years for a billion seconds to pass.

Now equate that to USD. Takes 13 days to count, one dollar at a time, a million dollars. Takes 32 years at the rate of one dollar per second to count one billion dollars.

It therefore takes 32,000 years to count, one dollar per second, one trillion dollars.

Kind of sheds a whole new light on things.

Cluck.


#36

So what economic system would you replace capitalism with that has proven to work?


#37

Atcheson et al are slowly rediscovering the Marxist analysis and critique of capitalism. Socialism remains the only answer.


#38

You mean like “Lagom,” part of the Scandinavian cultural DNA which explains why those countries live differently and are more socially successful.


#41

How can we call centralized systems like capitalism or socialism, “democracy”?

If its not direct, its not democracy.


#42

Explain lagom please. Thank you.


#43

Your information is horribly out of date. There is no evidence that population is out of control. It will likely stabilize around 2100 at about 10-11 billion. Those many can be easily supported if we stabilize climate change and create an economy that shares resource fairly.

There are increasing concerns of fertility-driven population crashes, not “bombs” - already a major concern in places like Russia, Japan, and some European countries and soon, China. Should a critical percentage of the population reach 45-50 years of age - beyond child-bearing age, the real threat of fertility-crash-driven economic collapse, then human extinction becomes a possibility. The mathematics of population growth and decline is fundamentally chaotic - chaos theory arose from population modeling studies. Deliberate attempts to control human fertility could go badly awry - the Chinese are starting to worry about this now with regard to their too-successful “one-child policy”.


#44

You need to be careful about your expression “cultural DNA” - it can easily lead to racist thinking. Why not just use “cultural tradition” - that newcomers of all nationalities and skin colors gladly adopt.


#45

It’s in the wiki link below my comment.