You would beg to differ while we see a fractional amount of examples of Capitalism working for Government leaders and 'elites' while the masses suffer the failures of the system?
Do you wear glasses? Very few people benefit from capitalism. The world economic crash was a result the core value of Capitalism. Profit driven by greed. Many hard working people who believed in capitalism and would give your speech and ear a few years ago have been severely hurt by the greed of a few small players who scalped the markets, watched it all crumble, then walked away with almost no harm done to them. The greed of a few men, who completed millions of mortgage transactions to people they knew would eventually default, in their infinite greed led the world into the largest economic disaster of our times.
Meanwhile here are some fun facts for you Mr. Capitalist.
Here is Capitalism at work.
The global financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. Around the world stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiest nations have had to come up with rescue packages to bail out their financial systems.
On the one hand many people are concerned that those responsible for the financial problems are the ones being bailed out, while on the other hand, a global financial meltdown will affect the livelihoods of almost everyone in an increasingly inter-connected world. The problem could have been avoided, if ideologues supporting the current economics models weren’t so vocal, influential and inconsiderate of others' viewpoints and concerns.
Because of the critical role banks play in the current market system, when the larger banks show signs of crisis, it is not just the wealthy that suffer, but potentially everyone. With a globalized system, a credit crunch can ripple through the entire (real) economy very quickly turning a global financial crisis into a global economic crisis.
For example, an entire banking system that lacks confidence in lending as it faces massive losses will try to shore up reserves and may reduce access to credit, or make it more difficult and expensive to obtain.
In the wider economy, this “credit crunch� and higher costs of borrowing will affect many sectors, leading to job cuts. People may find their mortgages harder to pay, or remortgaging could become expensive. For any recent home buyers, the value of their homes are likely to fall in value leaving them in negative equity. As people cut back on consumption to try and weather this economic storm, more businesses will struggle to survive leading to further further job losses.
As the above has played out, the situation has been bad enough that the International Labor Organization (ILO) has described this crisis as a global job crisis.
And so, many nations, whether wealthy and industrialized, or poor and developing, are sliding into recession if they are not already there.
While the media’s attention is on the global financial crisis (which predominantly affects the wealthy and middle classes), the effects of the global food crisis (which predominantly affects the poorer and working classes) seems to have fallen off the radar.
Some have been writing for many years that while the current economic ideology is flawed, it only needs minor tweaking to correct it and make it work for everyone; a more compassionate capitalism, but capitalism nonetheless.
What is hoped is that fruitful debate will increase in the mainstream. This will also attract ideologues of different shades, leading to both wider discussion but also more entrenched views. Those with power and money are less likely to agree to a radical change in economics where their power and influence are going to diminish, and will be able to lobby governments, produce compelling ads and do whatever it takes to maintain options that ensure they benefit.
And now a word from our sane sponsors:
Column: Capitalism a dead end for humanity.
Posted on27 October 2010.
By Dan Bullman
The Daily Campus, U. Connecticut via UWIRE
We are amidst an economic crisis that is two years-old. Unemployment, which is worst in black and Latino communities, is nearly 10 percent nationally. Working peoples’ homes continue to foreclose at record rates, raids and deportations of immigrant workers continue to escalate and poverty is on the rise. Today, one in seven Americans live below the poverty line. Half of the world’s population lives on less than $2.50 a day.
Not everyone is suffering, though. There is one sector of the population that has been doing just fine in this recession – the capitalist upper class. While the government hasn’t lifted a single finger to help out working people, it has given trillions of dollars to Wall Street bankers and other capitalists in the form of government bailouts and tax credits.
The war industry is also booming. More than half of our federal tax dollars go to funding the military. The wars in Iraq and Afghanistan and Pakistan, which have already killed millions of people for the sake of corporate profits, rage on with no end in sight. This happens whether Democrats or Republicans are in office.
The rich get richer and the poor get poorer. This is capitalism, a system where war, racism, homophobia, exploitation and sexism are all acceptable to the people who profit from it. Under capitalism, the chief means of production (i.e. the banks, factories, businesses, etc.) are all privately owned and the economy is driven by the profit motive. Everything the capitalist ruling class does is for the sake of extending or protecting profits.
It doesn’t have to be this way. In this time of crisis we need to look past capitalism, a system that produces nothing but poverty and misery for a majority of the world, to a system that will meet everyone’s needs. It is my belief that socialism is the solution to the economic and political crisis we are currently in.
Socialism is a system in which the means of production are owned collectively by the working class. The economy is run by working class people according to a democratic plan aimed at meeting the needs of everyone. Society would be governed by workers through workplace councils. Elected representatives would be workers who would be accountable to their workplace constituency and subject to immediate recall if they did not represent the interests of their co-workers.
The former Soviet Union was not a socialist society. Neither are the Western European countries nor China. Barack Obama and all his reforms have nothing to do with socialism either. Socialism requires direct democratic control of the economy and society by working class people.
The Soviet Union initially had workers’ control of the government and the economy, but this was destroyed in the face of economic embargo, civil war and foreign military intervention. The bureaucracy that took control of government instilled a planned economy and near full employment, but in an undemocratic and non-collective fashion. Even so, the Soviet economy grew from one of the least developed in Europe to the second strongest economy in the world in only a few decades. One can only imagine how prosperous it could have been if workers were planning the economy collectively and democratically in the interests of the whole society instead of in the interests of the Soviet bureaucracy.
Capitalism has nothing left to offer humanity except poverty, wealth inequality and endless war. The only way to get out of this endless boom and bust cycle of capitalism and imperialism is to take control of industry out of the hands of individual capitalists and put it under the control of working people. Workers create all of the wealth in society, so they should be the ones who decide how it’s used. This is what socialism is all about.
Read more here: http://www.dailycampus.com/commentary/capitalism-a-dead-end-for-humanity-1.1726834
Copyright 2010 The Daily Campus
***********************************************88
Forgive me, but I don't need a lesson on Cavemen, the Ice Age, or anything else. I only need to look at the last decade to see there is more than something inherently flawed about the way our world is operating.
What is personally concerning to me, is that The World's Poorest and Working Class people are being stripped of some of the only remaining entitlements even you capitalists know Humans should never be deprived of. Social Security, Pensions, HealthCare.
I am afraid with the latest talks of balancing our budget, the things that are seriously being debated about SS and more are threatening to throw the US into the same boat as Europe with riots and protests, becuase I mean comon, you can't take everything away from good people and watch as these greedy scumbag mutha&^%&4s walk away with token fines and they systematically f^&%$d everyone good and not out of everything they have worked for and expected out of their lives. It's BS and it is coming. Scenes like that from Spain/Portugal, Greece and France are coming to the US too, all because of these greedy muddaf^@#$^rs.
I think you need to look past your own good graces with clean eyes, and be humble about what you have and realize what capitalism is costing everyone who doesn't have as much as you do, NICK.