A Majority of Millennials Now Reject Capitalism - Poll Shows

  • metta

    Posts: 39134

    Aug 17, 2016 3:09 PM GMT
    A Majority of Millennials Now Reject Capitalism - Poll Shows

    "A new poll shows that a majority of young people do not support capitalism. The study was conducted by Harvard University, which polled young adults ages 18-29. It found that 51 percent of those polled rejected capitalism, that is to say, they did not support it. Only 42 percent said they support capitalism -- there was a margin of error of 2.4 percentage points. When asked what alternative system they would prefer, there wasn't a clear winner. Just 33 percent said they supported socialism. When talking about politics or economics, it can get complicated and the poll does little to shed light on what parts of capitalism young people dislike or what parts of socialism young people like. It does appear to suggest young people are frustrated with the status quo and are more focused on the flaws of free markets."

    https://www.washingtonpost.com/news/wonk/wp/2016/04/26/a-majority-of-millennials-now-reject-capitalism-poll-shows/

    https://politics.slashdot.org/story/16/04/27/0153249/a-majority-of-millennials-now-reject-capitalism-poll-shows

    http://www.schwartzreport.net/majority-millennials-now-reject-capitalism-poll-shows/
  • Destinharbor

    Posts: 4435

    Aug 17, 2016 3:28 PM GMT
    Sensible. Deregulation, concentration of wealth and income, and the general attitude of big business that humans are merely units of production cost has reduced the dignity of work, made it essentially impossible to achieve long-term security, find time to enjoy life, feel a valued member of a community. And to top it all off, a education system that fails to teach anything other than how to pass a test or American Exceptionalism along with religious nonsense leaves most unable to function beyond consumerism and entertainment. Business wanted drones and got exactly what they wanted.
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    Aug 17, 2016 8:51 PM GMT
    The only problem is that capitalism is the worst economic system there is - until compared with all others.

    Pure, unbridled capitalism runs roughshod over individual rights and dignities. Capitalism, as the economic engine, with a *dash* of socialism to keep people being treated like people, seems to work well in most nations that remember that pure socialism is just as crappy as pure capitalism, and so balance them off of each other.
  • Destinharbor

    Posts: 4435

    Aug 17, 2016 9:04 PM GMT
    Doctor9 saidThe only problem is that capitalism is the worst economic system there is - until compared with all others.

    Pure, unbridled capitalism runs roughshod over individual rights and dignities. Capitalism, as the economic engine, with a *dash* of socialism to keep people being treated like people, seems to work well in most nations that remember that pure socialism is just as crappy as pure capitalism, and so balance them off of each other.

    Totally agree and hope with the election of Hillary, we'll see the pendulum start swinging back towards the blended gov't. We can thank Bernie and Robert Reich for that but I do think she's become a believer.
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    Aug 17, 2016 9:05 PM GMT
    I have lived in both socialistic society and capitalistic society. Capitalism is better in my view. If you cannot stand to be a drone at a company then under capitalism you can create your own company. Successes and failures will more or less be based on the merits of your creativities.
  • metta

    Posts: 39134

    Aug 17, 2016 9:51 PM GMT
    Well, from the poll, they are not saying that they want socialism either.
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    Aug 17, 2016 11:25 PM GMT
    woodsmen saidI have lived in both socialistic society and capitalistic society. Capitalism is better in my view. If you cannot stand to be a drone at a company then under capitalism you can create your own company. Successes and failures will more or less be based on the merits of your creativities.


    That until...

    - Legislation forged under backroom deals with crony capitalist lobbyists creates artificial barriers for entry for would-be business people to the benefit of existing big players
    - Disadvantageous trade deals make it difficult for you to create anything related to manufacturing as you will face competition from slave wage countries
    - Anemic economy (as demonstrated by the insistence on ZIRP, NIRP, QE, helicopter money), deflating middle class and stagnant wages make your ROI low and your potential market smaller than it would be otherwise

    Yes, your creativity and know-how count a lot, so as long as you play according to your favorite politicians and central bankers.
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    Aug 18, 2016 12:10 AM GMT
    Yet despite all of the challenges, the USA has an environment that still rewards innovation and punishes legacyism. There are so many examples including Microsoft v. IBM; Apple v. Blackberry; Starbucks v. Folgers; Amazon.com v. Barnes and Noble; Expedia v. airlines; Uber v. rental car companies; and on and on.

    Each of these companies started from nothing and had and have everything against them including all the forces of Porter and yet they bested Goliath.
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    Aug 18, 2016 12:51 AM GMT
    woodsmen saidEach of these companies started from nothing and had and have everything against them including all the forces of Porter and yet they bested Goliath.


    Until they become monopolistic tax evading Goliaths themselves.
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    Aug 18, 2016 2:24 AM GMT
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  • roadbikeRob

    Posts: 14360

    Aug 18, 2016 12:46 PM GMT
    I have a workable suggestion for all the younger half of the millennials born in the 90s, if they detest and oppose capitalism so damn much than they should move to the Democratic People's Republic of Korea (North Korea) and live in that extremist socialist paradiseicon_wink.gif
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    Aug 18, 2016 1:05 PM GMT
    roadbikeRob saidI have a workable suggestion for all the younger half of the millennials born in the 90s, if they detest and oppose capitalism so damn much than they should move to the Democratic People's Republic of Korea (North Korea) and live in that extremist socialist paradiseicon_wink.gif

    Cynical idiots are always kind of scary.
  • roadbikeRob

    Posts: 14360

    Aug 18, 2016 1:10 PM GMT
    smartmoney said
    roadbikeRob saidI have a workable suggestion for all the younger half of the millennials born in the 90s, if they detest and oppose capitalism so damn much than they should move to the Democratic People's Republic of Korea (North Korea) and live in that extremist socialist paradiseicon_wink.gif

    Cynical idiots are always kind of scary.
    Dry upicon_mad.gif
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    Aug 18, 2016 6:04 PM GMT
    Of course. The same group of brilliant minds that think Karl Marx is running as a third party candidate:



  • roadbikeRob

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    Aug 19, 2016 1:55 AM GMT
    [quote?][cite]desertmuscl said[/cite]Of course. The same group of brilliant minds that think Karl Marx is running as a third party candidate:



    [/quote]Is this a joke?
  • Posted by a hidden member.
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    Aug 19, 2016 4:21 AM GMT
    roadbikeRob said[quote?][cite]desertmuscl said[/cite]Of course. The same group of brilliant minds that think Karl Marx is running as a third party candidate:



    Is this a joke?


    I've spent some time on San Diego beaches - it would be good if it was a joke but I think not.
    Take comfort in the fact that a couple people didn't fall for it.

    They might change their minds if they knew it meant things like iPhones wouldn't exist. Apple Computer wouldn't exist.

    They could get on the waiting list to buy a Trabant and hope the exhaust fumes don't get them....

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