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The Socialist party declares that the capitalist system has outgrown its historical function, and has become utterly incapable of meeting the problems now confronting society. We denounce this outgrown system as incompetent and corrupt and the source of unspeakable misery and suffering to the whole working class... Karl Denninger's response:
The problem is not, as they complained then (and people complain now) that Capitalism is defective. To the contrary; Capitalism is what allows a man to rise from nothing to wealth. To land here on the shores of America with a pair of threadbare pants and an old shirt, yet become a landowner and prosperous. To suffer the ignobility of poverty and crime as a child, but rise above it and start his own business.
Denninger's rebuttal is on the money describing the various socio-political systems. A good read if you have the time.
Last edited by gallowsCalibrator; 03-24-2011 at 09:53 AM..
Reason: Please post only small snippets from other sites.
Capitalist concentration is mercilessly crushing the class of small business men and driving its members into the ranks of propertyless wage-workers. The overwhelming majority of the people of America are being forced under a yoke of bondage by this soulless industrial despotism.
Capitalist concentration is mercilessly crushing the class of small business men and driving its members into the ranks of propertyless wage-workers. The overwhelming majority of the people of America are being forced under a yoke of bondage by this soulless industrial despotism.
Interesting point. What do you think?
I defer to the rebuttal concerning the positives of capitalism.
Monopoly business is the Curse of Capitalism and is the method used to destroy Free Markets. The economic system is not the problem but the business practices of big business are the means of destroying Capitalism.
As an example ask yourself why petroleum from Saudi Arabia costs the same as petroleum from Texas. In an open free market these would have different prices as the producers bid for buyers. The same would apply to gasoline brands and stations. The Free Market in oil and gasoline was destroyed by Standard Oil in the 1890's and has been killed again and again every time a producer, refiner or seller restarted price competition.
Another example is the price similarity in breakfast cereal or bread. Why do all brands have the same prices within a very small range? Why are cars so similarly priced?
These are all examples of markets destroyed by business colluding with one another to maximize all their profits at the expense of the purchaser. This is not Capitalism, but fraud.
Socialist socities except those financed by capitalist earners have never worked as we have seen them evapoarte.China figured out that no cetralist system works. Lok at the socialsit type programs ithsi country even when fianced;they grow and go towards broke everyday. Nothing is free and people will not work fith no opportuntiy for advancement.
Self interest is important to the Capitalist owners but has been overcome by the self interest of the managers that have forgotten that they are EMPLOYEES of the owners. Unconstrained managers colluding with each other to defraud the owners are Joint Stock Capitalism's greatest weakness.
When will we a thread that looks back at the platform of the Bull Moose Party?
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