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How can we have a discussion when you call managed capitalism aka socialism a success!
The sad fact is the recent turn towards socialization in the US is destroying small businesses. Pumping economy with debt spending throughout a 8 year cycle is just supporting a illegitimate banking economy that can't sustain itself and enriches itself at the cost of the free market without providing ample goods or services.
This planned economy with endless free money to big banks, socialization of property loans through Fannie and Freddie, policies of money creation that reward mainly banks for doing nothing, perversion of risk reward in stocks, and the general rejection and destruction of free market signaling and capitalism replaced by increasing socialism and dependence on government and central bank feeding frenzies that bear no logic to the real economy or rational thought but encourage wreckless spending and penalizes all but banks from accruing capital.
This behavior is a flat out denial of capitalism and needs to end. The Fed needs to go back to school and learn economic growth is not based on money supply, it's about increasing the goods and services in your economy. We are in an inevitable economic calamity of our own making which will result in the same catastrophic economic collapse together with all those countries who adopt socialist solutions to replace real capitalism.
Capitalism always eventually forces the economy and the market into facing the truth or destroys the uncapitalistic lie. The sooner the bad behavior by the government and the Fed gets proven to be destructive and the socialist enrichment machine for insiders gets vanquished and is removed the better we will be off and then and only then will good strong economic years appear once again.
I find that only a handful can offer a solid critique and live in accordance with their anti-capialist views. Most are hypocrites.
Being an economist, I find that most critics of particularly the more unfettered forms of capitalism make very reasonable points and come across as astute and knowledgeable observers of the current scene. These are very unlike the pre-fab Pollyannas and pre-programmed knee-jerk flag-wavers we might also see chasing about from time to time.
The bottom line is that capital was already a good enough thing long before an extremist religion was built up around it. The point of an economic system should be much more than simply amassing more and more profits and hence more and more capital. It should go on to embrace and foster improvement in the lives of more and more people, indeed approaching the level of everyone as closely as it can.
Capitalism is the correct economic system, in my view. It's the system in which America has become the richest country in the world.
However, our government needs to do more to help the poor get out of poverty. There definitely shouldn't be any homeless people in the United States. There should be a war on poverty (the condition) in this country.
A couple of my friends who are liberals bash capitalism but they can't come up with a real world alternative to it. In my opinion at this day and age there is no alternative to capitalism. Thoughts? Ideas?
It really should not have anything to do with politics.
It SHOULD have to do with your morals, and what is good for you and your family.
Also, some of us care about people with less than us. We want a society that cares for these people.
When I attended college I took a class in "Comparative Economic Systems" When I found out that under capitalism, that a certain segment of society needed to be unemployed or poor, I began to see it as an economic system that was without morals.
I can not live with that. Not in good consciousness.
It really should not have anything to do with politics.
It SHOULD have to do with your morals, and what is good for you and your family.
Also, some of us care about people with less than us. We want a society that cares for these people.
When I attended college I took a class in "Comparative Economic Systems" When I found out that under capitalism, that a certain segment of society needed to be unemployed or poor, I began to see it as an economic system that was without morals.
I can not live with that. Not in good consciousness.
I think that I am a democratic socialist.
Not completely true. And it is impossible for everyone to have the same standards of living. I believe in merit based achievements...It's natural that a doctor makes more than a mechanic because of the effort he or she put out.
In my experience, many who proclaim such belief are merely subscribers to a peculiar American mythology that has long had little applicability in the real world. We are not by anyone's legitimate measure a meritocracy. We merely pay homage to the concept while promoting the boss's lackadaisical brother-in-law.
Some have said that those wishing to pursue "The American Dream" these days should move to Denmark. That's certainly said tongue-in-cheek, but only partly so.
In my experience, many who proclaim such belief are merely subscribers to a peculiar American mythology that has long had little applicability in the real world. We are not by anyone's legitimate measure a meritocracy. We merely pay homage to the concept while promoting the boss's lackadaisical brother-in-law.
Some have said that those wishing to pursue "The American Dream" these days should move to Denmark. That's certainly said tongue-in-cheek, but only partly so.
I referenced Denmark in my post for a reason, as a society, their views on taxation are exactly what is needed to succeed in a blended capitalist/socialist system. I'm not advocating that peoples incomes should be limited. That's not the system in Denmark. What they do is collect taxes from the widest base possible. Their citizens realize that in order for them to have the society they all want, they all have to pay. Because of this, they have very generous benefits, and government sponsored healthcare. Unlike in the United States, their government fiercely enforces their laws. They are very much a rule of law country.
So what could the U. S. do to effect the changes most people say they want. First, the U.S. depends too much on income taxes, which are very easy to cheat on. We could lower income tax rates on the lower and middle class, and replace the lost income with a 2% federal retail sales tax on all new purchases. That way, even the tax cheats and illegal immigrants are paying into the system. We could keep Medicare and SSA taxes the same. We could then add a federal real estate transfer tax, something like .5% of the value of a property. This will get the big banks, real estate investors, house flippers paying in more money. Also, foreign corporations which pay no U.S. income tax, will be forced to pay this tax. Again, widening the base. We could also add a currency transfer tax, again something like .5%. Anytime currency is moved into the U.S., or out of the U.S., this tax would be owed. Again, getting the illegal immigrants who send money back home, and foreign entities, to pay into the U.S. system. So again, to sum it up, lowering the rates on everyone earning under a million a year, lowering the corporate tax rate, and adding the retail sales tax, real estate transfer tax, and currency transfer tax.
Using the additional revenue, we could tackle problems like healthcare, housing, education, without limiting peoples ability to earn income, or lowering people's drive to succeed.
I wish more people would speak to people who were raised in this system. I have a co-worker who was. Over there, students are graded on intelligence, and by high school, know what type of education they will have. They don't pay anything for college, however, not everyone is allowed to attend. If your grades and tests aren't up to par, you are sent to technical school/or a trade school. Imagine the uproar in this country, when the education department tells a young minority woman that she isn't intelligent enough for college, but she will make a great beautician. Even if the trade school is free, we would have politicians asking for hearings, organizations filing lawsuits. Over there, this is common. The students and parent accept the results.
To answer another poster, I happily pay my taxes. As a lower middle class taxpayer, I'm not required to pay much. That being said, I am sickened by the cost of education, health care, and housing in my country. It kills me inside knowing that somewhere in my country, a child is suffering due to lack of medical care, housing, etc.
A couple of my friends who are liberals bash capitalism but they can't come up with a real world alternative to it. In my opinion at this day and age there is no alternative to capitalism. Thoughts? Ideas?
many libs think socialism is the answer, but if you really got into to a deep discussion and pointed out the differences many would realize we have it the best of all worlds. People are great at wanting the best for everyone until they learn they have to give up a lot for everyone to be saved!!!!!!!!
Can you provide examples? There have been parts of the US economy that have been like that, but well over 100 years ago, socialist policies were applied.In some sense, in order to have free enterprise ( like Apple or fracking, just to name a couple ), governments have to "buy off" people in order to have other people have the opportunity to follow their dreams.
A good example is the Social Security system. It's got many flaws. I'd rather opt-out, but I believe that it HAS to exist because some, maybe most people are simply too stupid to provide for their own retirement. I have a relative who has made a six-figure income since the 1980s and is 68 years old AND has absolutely NOTHING in any kind of retirement or investment account. What he has is a Social Security benefit that will be North of $3k per month when he turns 70. He'd have nothing if it weren't for SS. There are millions of citizens in a similar boat, so without such socialism, there would be so much unrest that any kind of free-enterprise corporation would be impossible.
SS is a big income redistribution system, I know that, but I think it is a necessary "evil."
I would love to see SS be an option or a % of our contribution be privatized. That is the answer but it isn't going to happen in our life time, certainly not mine anyway.
In my experience, many who proclaim such belief are merely subscribers to a peculiar American mythology that has long had little applicability in the real world. We are not by anyone's legitimate measure a meritocracy. We merely pay homage to the concept while promoting the boss's lackadaisical brother-in-law.
Some have said that those wishing to pursue "The American Dream" these days should move to Denmark. That's certainly said tongue-in-cheek, but only partly so.
As an European, this Denmark "talk" is completely BS. Here in Brazil where i have been living for the past couple of years, the left often cite Denmark as a example of how socialism works. That's far from the truth. Denmark just like most countries have socialistic traits that's all. For me the state/gov should be responsible for , Health, Defense, Education and infrastructure. The less state we have the better. Also Denmark is the size(both population and geographical) of a "peanut' compared to the us...so that's that. And meritocracy is not an American thing. It is present in my native country of France, here where i live now(Brazil), in Canada, UK, Germany, Australia and your beloved Denmark
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