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I was talking to my father last night on the phone, about free market capitalism. He recently has gotten into Atlas Shrugged. As a socialist, obviously I was dismayed to hear of my dear dad taken in by someone I have always considered a charlatan.
Yet, he made some good points. He said that every time a market has been regulated, it screws things up. He also said that when a company exploits people, such as WalMart, BP or Exxon, this is horrible for its PR and the company will suffer because the consumers will stop shopping there, people will go on strike, etc.
So he thinks there's no reason to really worry about corporate takeover, unless the government steps in to protect those companies. I argued to him that if a company becomes powerful enough, sometimes it can literally overpower the government, as what happened with the bailouts, but then he reminded me that BP was punished dearly and had to fork out billions to the Gulf states they devastated.
Since the end of the Cold War in the late 80s/early 90s, the main force of power in the world has been the United States-led, neo-liberal push towards two things: representative democracy and free enterprise. Many of the world's socialist structures have been reduced and/or privated in the past quarter century.
Is this the best we can do? It's true that wars and so on have declined since the modern era of globalization took hold, but is this cause and effect or merely coincidence?
Does embracing the free market mean that we tolerate extreme inequality and even starvation? And what's the difference between rules and regulations? Free market proponents usually consider themselves quite patriotic, at least in the United States, yet doesn't having a free market mean being pro globalization and thus pro off-shoring as well?
I'd also argue that preventing lobbying and monopolies is indeed a regulation on the market. Or laws against child labour. Personally I don't think you can divide laws protecting human rights from regulations as easily as my father thinks.
Of course, eventually the Chinese will demand better wages and then the blue collar jobs might come back over here, but if our taxes are going to corporate interests rather than education, what if the next generation isn't educated enough to even work those jobs?
Capitalsm is the best system devised, or devisable, on this globe any other. It rewards productivity, inventiveness, creativity etc., and punishes slothfullness.
Capitalsm is the best system devised, or devisable, on this globe any other. It rewards productivity, inventiveness, creativity etc., and punishes slothfullness.
Win-Win-Win if you ask me.
I don't agree. Capitalism often causes stagnation, a perfect example would be the fossil fuel industry. It also often goes against what is ethical and humanitarian.
Ossibly so since we see a hug shift to capitalist market economies even i place I never thoguht we would se it start and succeed.Now long not sure but i think once its startede and the feeedoms it brings it goigto be hard to chage .It breeds indivivdualsm in most and they are the one who will fight to keep it.The swheep never really fight they just scream more tha anything.
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