Comments on: Why is capitalism failing us? http://polizeros.com/2008/06/15/why-is-capitalism-failing-us/ Musings on politics: anti-war, global warming, peak oil and otherwise Tue, 02 Dec 2008 21:16:50 +0000 http://wordpress.org/?v=2.6.1 By: Jansen http://polizeros.com/2008/06/15/why-is-capitalism-failing-us/#comment-156884 Jansen Tue, 21 Oct 2008 15:26:32 +0000 http://polizeros.com/?p=11913#comment-156884 Today I read another view which ought to be considered - http://www.stumbleupon.com/url/www.commondreams.org/view/2008/10/20-0 - The Idiots Who Rule America by Chris Hedges - try it on. Today I read another view which ought to be considered -
http://www.stumbleupon.com/url/www.commondreams.org/view/2008/10/20-0 - The Idiots Who Rule America by Chris Hedges - try it on.

]]> By: Jansen http://polizeros.com/2008/06/15/why-is-capitalism-failing-us/#comment-156840 Jansen Sun, 19 Oct 2008 15:17:57 +0000 http://polizeros.com/?p=11913#comment-156840 Adam Smith also recognized the need for a competent central govt., a thing voters have been persuaded is an evil entity ... over the past 30 (make that 40) years our skills at home and abroad have become 'hollow' ... relying more and more on always limited police and military might. Fault the so-called wisdom of the so-called common people who bought into voodoo economics and pie-in-the-sky big brotherism - not evil government, but an absentee Father whose children have run amoke. Adam Smith also recognized the need for a competent central govt., a thing voters have been persuaded is an evil entity … over the past 30 (make that 40) years our skills at home and abroad have become ‘hollow’ … relying more and more on always limited police and military might. Fault the so-called wisdom of the so-called common people who bought into voodoo economics and pie-in-the-sky big brotherism - not evil government, but an absentee Father whose children have run amoke.

]]> By: Bob Morris http://polizeros.com/2008/06/15/why-is-capitalism-failing-us/#comment-153284 Bob Morris Tue, 17 Jun 2008 17:49:10 +0000 http://polizeros.com/?p=11913#comment-153284 An emerging problem with both capitalism and socialism is that they need a strong central government to function efficiently and fairly, but in the coming 4gw world, what we're getting is the hollowing out of governments instead. An emerging problem with both capitalism and socialism is that they need a strong central government to function efficiently and fairly, but in the coming 4gw world, what we’re getting is the hollowing out of governments instead.

]]> By: DJ http://polizeros.com/2008/06/15/why-is-capitalism-failing-us/#comment-153243 DJ Sun, 15 Jun 2008 15:02:58 +0000 http://polizeros.com/?p=11913#comment-153243 Ask not why capitalism has failed us, but rather why have we failed capitalism. Adam Smith recognized the role of a strong central government to (1) regulate markets where necessary, (2) provide progressive taxation so that wealth does not accumulate excessively at the top, and (3) provide those essentials like education and infrastructiure (and these days one might add health insurance) that the market cannot effectively provide. Smith also recognized the need for a strong moral principle underlying the capitalist system. He would be appalled at the current equating of "self-interest" with "greed." Our economic system today little resembles capitalism. We have rebelled against taxation, deregulated markets, and elected leaders that failed to provide the essentials a government should. As business has globalized, we have rebelled against giving up national sovereignty, allowing the ultra-wealthy to evade control by any government. But above all, we have forgotten that self-interest means at a minimum that our neighbor ought not to be so poor that he/she needs to steal from us in order to survive. Capitalism has its failings--but it also has the advantage of harnessing (rather than denying) humankind's desire to excel. But if we are to return to a capitalist system, we would need two major changes: (1) a government larger than the economy; in other words, either global government or a return to national/local economies-- and only the former would have the ability to implement progressive taxation that would move wealth from the filthy rich (us) to the poverty-stricken majority, and (2) a mass awakening of consciousness that the wellbeing of others affects our own wellbeing. Personally, I don't see either condition happening in my lifetime. Welcome to the Age of Anarchy. Ask not why capitalism has failed us, but rather why have we failed capitalism. Adam Smith recognized the role of a strong central government to (1) regulate markets where necessary, (2) provide progressive taxation so that wealth does not accumulate excessively at the top, and (3) provide those essentials like education and infrastructiure (and these days one might add health insurance) that the market cannot effectively provide. Smith also recognized the need for a strong moral principle underlying the capitalist system. He would be appalled at the current equating of “self-interest” with “greed.”

Our economic system today little resembles capitalism. We have rebelled against taxation, deregulated markets, and elected leaders that failed to provide the essentials a government should. As business has globalized, we have rebelled against giving up national sovereignty, allowing the ultra-wealthy to evade control by any government. But above all, we have forgotten that self-interest means at a minimum that our neighbor ought not to be so poor that he/she needs to steal from us in order to survive.

Capitalism has its failings–but it also has the advantage of harnessing (rather than denying) humankind’s desire to excel. But if we are to return to a capitalist system, we would need two major changes: (1) a government larger than the economy; in other words, either global government or a return to national/local economies– and only the former would have the ability to implement progressive taxation that would move wealth from the filthy rich (us) to the poverty-stricken majority, and (2) a mass awakening of consciousness that the wellbeing of others affects our own wellbeing.

Personally, I don’t see either condition happening in my lifetime. Welcome to the Age of Anarchy.

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