Loading...

Forum

You need to log in to create posts and topics.

Socialism vs capitalism

Even though I find myself having much less "beliefs" about socialism or capitalism, what they are and what they are not, I learned from this article. To reduce it to private vs public ownership is important, and it points out that most people argue about fantasy things when they use these words. They debate beliefs and not reality.

And I agree, as capitalism is not THE way we organize ourselves, but one way of organizing one part of society, we cannot blame it for all our problems. And I think in part, inequality is due to an implementation problem, because of corruption (financial, political which is called lobbying and other conflicting interests), and also because democracy as we currently have it implemented is not working. When you see smart, educated people voting for Trump, and nowadays you begin to see the ideological rigid right developing as a response to Trumpism, you know it's not a problem of people, it's a problem of how we organize ourselves to make decisions and implement things. Most high level politicians today are actors, with no real experience or qualification in management. They bring no value add other than that people like to vote for them. Being in government, being an elected official should be about value add. Well, all that to say that I agree with the subject of capitalism or socialism, and that we need to look for the problem elsewhere.

Most high level politicians today are actors, with no real experience or qualification in management. They bring no value add other than that people like to vote for them. Being in government, being an elected official should be about value add. 

Yes!  I wish there were more people like this who wanted to solve authentic problems instead of telling people what they want to hear without understanding how things work. For instance, I see E. Warren going on and on about a wealth tax and there's simply no rational way to implement such a thing. Has she even taken the time to think through the most basic facts here or is she just pandering to her audience because she knows that hating on rich people polls well? Trump, of course, is even worse. He has no basic understanding of economics and finance which is why he keeps playing games with trade and things like that.

It's kind of sad if you ask me. All these people running for office have no real understanding of how the economy works and so they're just pandering to people with no real solutions to offer.

I've become an independent over the years because of this. I am so disillusioned by everything I see from both sides. It's discouraging.

"Pragmatic Capitalism is the best website on the Internet. Just trust me. Please?" - Cullen Roche

"Most high level politicians today are actors, with no real experience or qualification in management. They bring no value add other than that people like to vote for them. Being in government, being an elected official should be about value add. "

"People today seem to confuse inequality for a failure of capitalism. This is misleading. While capitalism has some level of inherent inequality the rise of mass inequality is a policy failure, not a failure of the system itself."

We need to have a group hug.

Every semester I'm faced with students who have been taught in HS the perils of capitalism.  Every year I lecture on capitalism, and every year I have at least one student complain that I'm promoting my bias. These students are trained from a very young age that capitalism is bad.  Hell, my 10-year old, in fourth grade, says he hates Trump and his policies.  I ask what policies, and he doesn't know.  I ask where he hears this, and he says school.  Wow.  Personally, I dislike both parties equally.  I keep all my lectures neutral so I'm not concerned about one or two students complaining.  I have 400 a semester.

One of the other errors about capitalism I find is how it's defined.  In my world (economics), capitalism is the private ownership of resources (wealth creation).  That's it.  So if one says they are against capitalism, they are saying they want public ownership of resources, which includes labor.  We all know that's not what they want.  Their beef is with the market system (wealth distribution), which is different than capitalism.  I have yet to hear an intelligent argument against wealth creation.  To me, there is no debate.  Wealth creation is beautiful.

The market system is most certainly up for debate.  As both of you said, the market system debate is not so much about the participants, but about the politicians and their policies.  This goes against what the young students are taught.  Government is the answer to the problem.  I cringe at that thought.  The finance and health industry are two of the most regulated industries, yet they are also the two problem child industries (in terms of economic impact).  Each business cycle, we add more regulation.  The only constant is the regulations...yet we never question them as a cause.

Anyways. Thanks for posting video.