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Because we have to either have Brazil's economy or North Korea's. There are no other options.
I truly don't understand what the libertarians have against the Middle Class. The Middle Class keeps our economic pump primed. Otherwise it's just a bunch of empty sucking and sputtering. If we do well by the Middle Class, the rest of the country does well. (Or in the case of the poor, they do better.)
Saying that capitalism has failed would be like saying that a Boeing 747 failed when it crashed, while ignoring the fact that the plane came down due to pilot error.
The US and global economic elite, corporations that are aligned with corrupt politicians and laws that run contrary to what a capitalistic country requires (within the parameters of a constitutional republic) are the equivalent of pilot error.
How did capitalism fail ? Are you advocating communism, then every-one is poor and no one to envy !
There are other economic systems. It doesn't have to be one or the other.
The best form of capitalism was the kind we had during the 1950s to mid-1960s. Deregulation unbalances capitalism -- all the time, every time. Without checks and balances, the tendency for capitalism is toward wealth inequality. (And don't get me wrong, some wealth inequality is a good thing. That's the reward for playing the capitalism game optimally -- pulling ahead of the pack.)
We don't have to abandon capitalism and go straight to Marxism. That's stupid. We should go back to the kind of capitalism that works -- the T. Roosevelt/Taft/Eisenhower brand of capitalism. That kind of capitalism works very, very well.
You must have missed that sentence that reads, "And don't get me wrong, some wealth inequality is a good thing."
Total skewing of wealth inequality turns us into Mexico or Brazil. Is that what you want? In those countries, roughly 90% of the population live in poverty. They have a middle class of 8%, with 1% wealthy and 1% uber-wealthy? Because that's where we're heading.
The richest man in the world is Mexican, after all. I wouldn't want to be the richest man living in a ****hole, stuck in a fortress for fear of being whacked by narco-terrorists. Warren Buffett gets to visit his beloved diner in Omaha several times a week and nobody messes with him -- at least for now.
Saying that capitalism has failed would be like saying that a Boeing 747 failed when it crashed, while ignoring the fact that the plane came down due to pilot error.
The US and global economic elite, corporations that are aligned with corrupt politicians and laws that run contrary to what a capitalistic country requires (within the parameters of a constitutional republic) are the equivalent of pilot error.
I would say that if you look around the country, it is obvious that in many if not most areas, capitalism has failed to produce anything close to an adequate supply of housing that is affordable to people below median income.
Human error on the part of developers and landlords? Really?
How did capitalism fail ? Are you advocating communism, then every-one is poor and no one to envy !
Capitalism has clearly failed to produce an adequate supply of housing in this country affordable to people who earn less than median income.
When half of all low-income renters are spending at least half their income on shelter, that looks like a failure of capitalism. A lot of those people are eating only because government gives them food stamps and private charities give them food.
I know you are being funny but equating capitalism (a man made system) to gravity is a bit of a stretch. Unchecked, capitalism along with just about every economic/political system conceived by man can do harm.
Exactly. People do NOT act in their best self (economic) interest. They ALWAYS act in their best PERCEIVED self interest. Two entirely different things. Explains everything ...
Exactly. People do NOT act in their best self (economic) interest. They ALWAYS act in their best PERCEIVED self interest. Two entirely different things. Explains everything ...
Another issue inherent to capitalism is unequal economic power affords unequal ability to act in one's perceived self-interest.
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