Capitalism

[HerefordSire]

Is capitalism good or bad and why or why not?

Capitalism typically refers to an economic and social system in which the means of production (also known as capital) are privately controlled; labor, goods and capital are traded in a market; profits are distributed to owners or invested in new technologies and industries; and wages are paid to labor.

http://en.wikipedia.org/wiki/Capitalism

 

[HerefordSire]

Something to compare to...

Socialism is an economic system of government which advocates state ownership of the means of production with equal distribution of goods among the people. The central goal is to establish a "worker's paradise"-an ideal state with perfect equality.

In practice the government owns the banks, railroads, farmlands, factories, and stores, and is the only employer. (People sometimes are allowed to have small gardens.) The central goal is to destroy the "evils of capitalism" by government ownership of the means of production.

http://www.conservapedia.com/Socialism

 

[Douglas]

It is the worst system except for all the rest.

 

[HerefordSire]

It is the worst system except for all the rest.

Excellent one-liner Douglas! Capitalism is ruthless at times.

 

[Douglas]

^ Exactly, the problem becomes what is the alternative

 

[HerefordSire]

^ Exactly, the problem becomes what is the alternative

:shock: :shock: :shock:

Most Americans over 50 were taught that "capitalism" was better than "socialism," and that America was "capitalist." More recently, "capitalism" has fallen out of favor. The ostensibly conservative Richard Nixon[3] famously quipped, "We are all Keynesians now," by which he meant, nobody is a "capitalist" anymore.[4] Few people today are willing to identify themselves as defenders of capitalism. Capitalism is not trendy in our day. A self-identified "socialist" is far more likely to get a teaching position at a major university than one who openly defends "laissez-faire capitalism," ceteris paribus.

http://kevincraig.us/capitalism.htm

 

[aplusmnt]

Socialism is like living with your parents. Capitalism is when you move out and control your own life and destiny. I guess there are some unmotivated that would enjoy still living with their parents when they are adults but I think most of us would prefer to live on our own as adults.

Some people just want to take that choice away from us and tell us we would be better off if we lived with our parents!

 

[HerefordSire]

Socialism is like living with your parents. Capitalism is when you move out and control your own life and destiny. I guess there are some unmotivated that would enjoy still living with their parents when they are adults but I think most of us would prefer to live on our own as adults.

Some people just want to take that choice away from us and tell us we would be better off if we lived with our parents!

Very good analagy. Like being responsible or irresponsible?

 

[1982vett]

Socialism is like living with your parents. Capitalism is when you move out and control your own life and destiny. I guess there are some unmotivated that would enjoy still living with their parents when they are adults but I think most of us would prefer to live on our own as adults.

Some people just want to take that choice away from us and tell us we would be better off if we lived with our parents!

Very good analagy. Like being responsible or irresponsible?

How can I be irresponsible. It isn't my fault. ;-)

 

[jw]

Capitalism is the ability to make more than enough money to produce a film about how good it would be to live under socialism. Like Michael Moore did.

 

[aplusmnt]

Capitalism is the ability to make more than enough money to produce a film about how good it would be to live under socialism. Like Michael Moore did.

Surely he is not going to keep that money, I wonder who he redistributed it to?

 

[Alberta farmer]

In any system there can be abuses. A prime example is the meltdown in the credit markets? Now the "capitalist" banks, car companies etc. come crying to the government to bail them out? Somehow I don't think that is really all that much of a capitalist system?
I think a free enterprize system works the best...with checks and balances on the capitalists so they don't rape and pillage the people. I think the USA had a pretty good system going until they let the robbers create their own rules. Just my opinion.

 

[grannysoo]

Capitalism is the ability to make more than enough money to produce a film about how good it would be to live under socialism. Like Michael Moore did.

I've seen the previews for his new movie and it looks like it's going to be a hoot. When he starts running the police tape around Wall Street, I got a good laugh out of that. I don't especially like Michael Moore, but you've got to give him credit.... he can produce a dang good movie. Whether you agree or disagree with him, he's entertaining.

 

[HerefordSire]

Say I have 10 cows. I feed them all the same and give them all the same shots. They graze out of the same pasture. When their calves are sold, the money goes into the pool to pay their overhead. In a way, the cows abide by socialism.

On the other hand, I the rancher, implement the socialism. But, I get the profit or loss after all costs are incurred. In a way, a capitalist runs socialism.

Sound familiar?

 

[HerefordSire]

Socialism is like living with your parents. Capitalism is when you move out and control your own life and destiny. I guess there are some unmotivated that would enjoy still living with their parents when they are adults but I think most of us would prefer to live on our own as adults.

Some people just want to take that choice away from us and tell us we would be better off if we lived with our parents!

Very good analagy. Like being responsible or irresponsible?

How can I be irresponsible. It isn't my fault. ;-)

No workee, no monee. No pay billsee, no more useee. Compared to....no workee, give me and no pay billsee, give me.

 

[backhoeboogie]

It is extremely difficult not to get political with this thread.

Otherwise I'd tell you exactly how I really feel.

 

[HerefordSire]

Capitalism is the ability to make more than enough money to produce a film about how good it would be to live under socialism. Like Michael Moore did.

If he doesn't contribute his movie profits, I would say this is another good example of being a hypocrite. I wonder who paid for the armed policeman outside the banks when Moore was knocking on the front doors wanting the TARP money back? If we pay these salaries, I would say Moore's movie company needs to reeimburse us.

 

[HerefordSire]

In any system there can be abuses. A prime example is the meltdown in the credit markets? Now the "capitalist" banks, car companies etc. come crying to the government to bail them out? Somehow I don't think that is really all that much of a capitalist system?
I think a free enterprize system works the best...with checks and balances on the capitalists so they don't rape and pillage the people. I think the USA had a pretty good system going until they let the robbers create their own rules. Just my opinion.

We should have let the financial system fail, wash the debt out, and start over. The way it occurred, we will prolong the inevitable.

 

[john250]

In any system there can be abuses. A prime example is the meltdown in the credit markets? Now the "capitalist" banks, car companies etc. come crying to the government to bail them out? Somehow I don't think that is really all that much of a capitalist system?
I think a free enterprize system works the best...with checks and balances on the capitalists so they don't rape and pillage the people. I think the USA had a pretty good system going until they let the robbers create their own rules. Just my opinion.

We should have let the financial system fail, wash the debt out, and start over. The way it occurred, we will prolong the inevitable.

A very big A-men on that. We didn't fall as far as we could have fallen, I suppose. But the inefficiencies we are building in to the system will make the next crash worse.
Valuable assets recover very quickly if the market gets a chance. And the speculative assets get washed away.

 

[HerefordSire]

In any system there can be abuses. A prime example is the meltdown in the credit markets? Now the "capitalist" banks, car companies etc. come crying to the government to bail them out? Somehow I don't think that is really all that much of a capitalist system?
I think a free enterprize system works the best...with checks and balances on the capitalists so they don't rape and pillage the people. I think the USA had a pretty good system going until they let the robbers create their own rules. Just my opinion.

We should have let the financial system fail, wash the debt out, and start over. The way it occurred, we will prolong the inevitable.

A very big A-men on that. We didn't fall as far as we could have fallen, I suppose. But the inefficiencies we are building in to the system will make the next crash worse.
Valuable assets recover very quickly if the market gets a chance. And the speculative assets get washed away.

The main difference (I think) is interest compound annually. If 20 years slides by before all the debt is paid, the amount could be impossible relative to GDP.