Capitalism the Terminal Economy?

[ovcatto]

TomDot

"It is the ultimate result of freedom"

Sorry, but any system that represents 0.24% of social evolution can hardly be considered the ultimate.

"America sucks. Right"

Well it has had its sucky moments but a discussion about human economic organization requires a view a bit larger than just of the United States.

Frank Carbonni

Thanks for your comments. As for "I'm guessing this at least a few hundred years into the future." I a bit more optimistic, so I assume humans will be around for anther millennium or two at the very least.

Bill Keegan

"I think before we look to see capitalism fail, we ough to be looking for it to be allowed to exist FULLY & COMPLETELY. Get rid of thinngs like government subsidies to farmers to grow one product instead of another, and "bailouts" to companies that manage themselves to near extinction.'

We tried that, it was called the 19th Century.

[KevK]

Capitalism is a great system when it is well regulated and competing interest are balanced. This was largely the case between the time of FDR and Reagan. We had a thriving capitalist economy that was well regulated but competitive.
There was balance between stockholders and customers. There was balance between labour and management. There was the Sherman Anti Trust Act and it was enforced to prevent monopolies and abuses of consumers and the SEC actually did what it was supposed to do to prevent things like Madoff from stealing $50 billion.
Beginning with Reagan and continued through Bush I and Clinton the capitalist system was deregualted to the point where greed and criminality took it over. Instead of being based on reality you had things like dot.coms and real estate being sold for much more than any realistic value could be put up on them.
Now it is all crashing down and whether or not it survives and in what form remains to be seen.

[sickofnyc]

Originally Posted by ovcatto

Modern humans have been on this planet for more than 250,000 years and for the vast majority lived in various forms of non-capitalist economies. So mark the advent of capitalism to the 14th century or roughly a mere 600 years. So, in the grand scheme of human evolution, I would think that to assume that capitalism is the end all be all of human economic relationships would be a bit short sighted. What would replace it, I don't know, but I have to believe that at some point another system of production and wealth distribution will replace it. Or am I just wrong?

There is a great book called "The Celestine Prophecy" by James Redfield and it has a great ending pertaining to this issue.

[EinsteinsGhost]

Originally Posted by Bill Keegan

Fix the system, or a particular segment of it. For example, somewhere along the line, government agencies were created to insure banks against losses due to risky loans.

Government agencies are created to protect the nation and its people from crooks. They are also the reasons for regulations. Are you also opposed to FDIC?

I'm not enough of a historian to be able to answer the other questions off the top of my head. I could offer some thoughts, but I'd be unable to provide solid backup. I'll think on it, and in the meantime, I'm sure many others will be happy to offer some insights.

You don't need history to answer the questions I asked, just a perspective. Without it, there is no learning, and any conclusions drawn are pointless.

Yes, I was looking for just thoughts, and will wait for your response to my questions.

[ovcatto]

Originally Posted by sickofnyc

There is a great book called "The Celestine Prophecy" by James Redfield and it has a great ending pertaining to this issue.

Thanks, I'll look into it.