Why Did Capitalism Fail?

  • Posted by a hidden member.
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    Apr 20, 2012 10:10 PM GMT
    "“…The modern world is ruled by multinational corporations and governed by a capitalistic ideology that believes: Corporations are a special breed of people, motivated solely by self-interest. Corporations seek to maximize return on capital by leveraging productivity and paying the least possible amount for taxes and labor. Corporate executives pledge allegiance to their directors and shareholders. The dominant corporate perspective is short term, the current financial quarter, and the dominant corporate ethic is greed, doing whatever it takes to maximize profit.

    In 1759 Philosopher Adam Smith argued that while wealthy individuals and corporations were motivated by self interest, an "invisible hand" was operating in the background ensuring that capitalist activities ultimately benefited society. In modern times this concept became the basis for the pronouncements of the Chicago School of Economics that markets were inherently self regulating. However, the last five years have demonstrated that there is no "invisible hand" -- unregulated markets have spelled disaster for the average person. The "recovery" of 2009-10 ensured that "too big to fail" institutions would survive and the rich would continue to be rich. Meanwhile millions of good jobs were either eliminated or replaced by low-wage jobs with poor or no benefits.”

    [url]http://www.huffingtonpost.com/bob-burnett/failed-capitalism-_b_931213.html
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    Apr 20, 2012 10:11 PM GMT
    Capitalism has not failed -- at least not the carefully regulated, non-corrupt, socially-responsible kind of capitalism preferred by most Americans.

    It's the corrupt corporate welfare and crony capitalism preferred by the Wall Street-Capitol Hill-Ayn Rand complex that has failed.
  • creature

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    Apr 20, 2012 10:25 PM GMT
    TroyAthlete saidCapitalism has not failed -- at least not the carefully regulated, non-corrupt, socially-responsible kind of capitalism preferred by most Americans.

    It's the corrupt corporate welfare and crony capitalism preferred by the Wall Street-Capitol Hill-Ayn Rand complex that has failed.


    And unfortunately, we've never actually experienced that.
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    Apr 20, 2012 10:43 PM GMT
    Capitalism has gotten off track by its CEO's buying unatural and impractical favoritism from the Government underwhich it is created. It is thereby off balance, the Citizens United Decision by the Supreme Court furthered this imbalance.

    Capitolism works more naturally when it is balanced between profit and the needs, rights and benefit of the workers who make the profits possible. This is where we were in the late 50's, 60's and the 70's, when UN workers made a living wage on one salary and could afford the practical living standards similar to the corps CEO's. Taxes were much higher then and the economies were vibrant because the masses had money to spend for their needs.

    Seems that greed at the top fucked it all up. right along with the Corps CEO's purchase of favorable legislation to themselves as the reps of the Corps., all to the demise of its workers.

    So here we are with the majority of Politician decision makers happy on their 'knees' or in the 'laps' at the Corporate alters taking every dime they can get to stay on the US Political Dole, and the sleeping sheeple bought and paid for by the likes of the Koch Bro's going right along because they get some of their pet social issues inacted in the bargain. No-one should wonder what's happened to Capitalism its all quite obvious and now stuck in the muck of the 'Status Quo' quagmire