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CAPATALISM has proven itself bad for people, society and nation itself and reality is before us...how will we fix it?
You don't need to fix capitalism, for the same reason you don't need to fix gravity. The problem isn't that gravity is broken. The problem is when people are stupid enough to jump off a cliff and try to fly.
You don't need to fix capitalism, for the same reason you don't need to fix gravity. The problem isn't that gravity is broken. The problem is when people are stupid enough to jump off a cliff and try to fly.
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.
If anything has failed it's the American labor movement. Workers somehow figured that the fight for their place at the table was over some time ago, you hear the talk of union organizing as a historical thing pictured in black and white film of the battles of police, National Guard clashing with picketers in the old plants of early day manufacturing and out in the country in the mines of Kentucky.
Workers here in America at one time were some of the poorest in the world. That fact is often noted as one of labor's victories with the advent of wage and benefit clauses in union contracts. Today the worker thinks of themselves as free agents, making their own deals with the corporate system, but, labor as a percentage of profit seems to be shrinking, while profits rise to meteoric heights.
There isn't anything wrong with capitalism. It has been shown to be a system that has allowed a fair amount of free enterprise, (small enterprise) although that has been diminished along with labor's position relative to capital. One thing that history has shown us with regard to any economic system is that they all need a fair amount of corralling in order that democracy can rule, and not plutocracy. Monopoly capitalism cannot be tolerated in a democratic society, but that's our reality for now. The death of small business and the corresponding rise in big box majorities is certainly not the fault of unions, nor of capitalism----- but moreover the result of an unrestrained form of capitalism.
Its just about 1 year old and has been talked/linked about here prior.
Get up with times man......
But...
If we want to re-hash the discussion... why not? Why don't you tell us how you would fix it?
One world currency with a set minimum wage and vacation time. In this fashion you would not have corporations using certain countries weak currencies to their advantage such as China and could give everyone things such as a set amount of vacation time.
My beef with America is that 2-3 weeks of vacation a year is simply not enough time to do anything. It should be more like it is in Europe where they limit the amount of overtime you have to work and give generous time off. I wouldn't care if it was unpaid.. I just want the option to not be at work for a couple weeks 3 times a year.
Everyone gets a similar standard of living the world over at least in developed countries that choose to do this. Right now too much emphasis is on the 'bottom line' and stock prices which cause corporations to focus too much on cutting pay to raise profits.
Automation is also an issue because many fewer people are needed to do the same work leading to an issue of people being able to find jobs at all.
I think labor is indeed undervalued and applaud when workers fight for higher wages in jobs like fast food. If everyone did this it would certainly throw the system into chaos that is funneling all this wealth up to the top...
Somehow we managed to get by having living wages back during the industrial revolution and everyone got by much better off... this funny money generation easy credit has driven up asset prices such that in any place that pays a remotely decent wage real estate is priced out of affordability. The minimum wage back in the early to mid 80's bought much more than it does today... around the equivalent of $12 per hour... yet a lot of blue collar manufacturing type work barely pays higher than $12/hour these days.
Those that are in the top percentile chase real estate in prime areas and have driven it up to stupid levels compared to 25 years ago. In non prime areas there is no work. Pick your poison.
Capitalism as a description of a real free market economic system is very efficient at weeding out failures. This is why big business has replaced it in this country, and most of the world, with government protection and internal collusion. It is very difficult to make a profit in a free market with few or no barriers to entry. This is why the free market was replaced with regulated crony business.
CAPATALISM has proven itself bad for people, society and nation itself and reality is before us...how will we fix it?
CAPITALISM has not failed! Radical tax cuts have failed. Reaganomics/Bush II tax cuts have been a disaster. To fix it, simply restore even just a semblance of the graduated tax system the US had before Reagan. Raise the capital gains tax to 24% (CA Gov. Jerry Brown recently balanced CA's budget and came out with a surplus just by raising the state cap gains tax), and raise income taxes on higher earners to a cap of 65% (it used to be 90%).
Look around you. Then look around North Korea. Tell me again whether it's capitalism or communism that failed.
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