Do you think current crisis is a failure of old stale bureaucracies but not of capitalism?
Here's how I understand capitalism. A number of competing manufacturer, freedom of movement for people and businesses. Look around, half our stuff is made in China. It's like my slippers are from Spain, jacket from Australia and shorts from South Africa. Global banks and corporations coming up with fraudulent schemes to gain control of markets. Why would I get a 30 year mortgage if I could bring a bunch of workers from Zimbabwe who would build the house while being paid $200 per month. Am I the only person who feels that if it wasn't for organized crime including terrorism, freedom for anyone to live and work anywhere they want would produce an effective and progressive global economy where everyone would be better off as opposed to mafia kleptocracies? How is it possible that people who make money from the industry also regulate the industry - like banking, agriculture, automotive, oil. >>Everyone who has studied economics will know this. I'm sorry but this is demagogy. Purely from a rhetorical perspective. It's like saying Everyone who took engineering knows my bridges are the best :) Adam Smith would disagree, or Marx - they were economists as far I know.
Politics - 2 Answers
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1 :
They're just pulling a Carnegie, where if you own everything, you make a better profit. Its just always buisness as all;
2 :
People do not understand that in order for capitalism to exist there must be a domino effect. Capitalism runs in cycles. Therefore every generation or so it is bound to see a economic downturn in order to follow an economic increase otherwise the system is not sustainable. Let’s face it no economic system will give you an economic boom that will last indefinitely. It is just impossible as markets are volatile and capitalistic markets run in model of assumptions. Also you have to add the unforeseen events and margin of errors in between. Everyone who has studied economics will know this.
