Is capitalism still a healthy system to use for a society?
Communism died and proved to be a system that won't work for a country. But is capitalism still the answer now we see that the Middle class is disappearing. The gap between super rich and poor becomes bigger. Multinationals become more powerful then states, they have become so powerful that they buy politics. Is pure capitalism today the future for our well being? Or do we have to look for an alternative.
The theory of capitalism assumes perfect information of all participating entities and the ability to act immediately to this information. The truth is, this does not reflect reality. The version of capitalism that we have in the US is not true to its name. Government subsidies, unappreciated negative externalities, and rampant cronyism are just a few of the inefficiencies that plague our system. In light of this, I would argue that capitalism was never a healthy system for our society to use. An altered version of capitalism could potentially work, if only these aforementioned adjustments were executed in a more effective manner.
You are very polite in your answer :-) true the so called free market of capitalism today is more a pseudonym for imperialism where the multinationals profit from huge subsidies and tax benefits while using cheap labor in countries like Mexico.
@PeterStip: my sentiment exactly. Thanks for reading!
Peter, you wrote, "... is capitalism still the answer now we see that the Middle class is disappearing. The gap between super rich and poor becomes bigger..."
First, the middle class is NOT disappearing; nor is it going anywhere.
Second, throughout world and US history, the gap between the "super rich" and the poor has always been a wide and ever-expanding thing.
All of the talk about the "disappearing middle class" and the gap between the rich and the poor getting bigger is nothing but left-wing propaganda, designed to drive more people into the clutches of government.
The truth is, the majority of the middle class is very well established and standing on firm ground -- and millions of the poor are working their way out of poverty and elevating themselves by leaps and bounds.
Yeah, right, capitalism is somehow the problem.
Forget that it has been the only worldview that has promoted and produced free markets, freedom of the individual, productivity and entrepreneurship and toss it, for what ? Hope and Change?
Capitalism is the outcome of the cultural transmission of virtues and other ideas found in Christianity. The problems you mention in your Question are not a result of capitalism nor are they encouraged by capitalism. Capitalism is being replaced by crony capitalism. Capitalism is being corrupted by a continuing lack of morals and ethics that are involved in our modern world.
And how can anyone say the middle class is disappearing. To start with there is no universally recognized definition of middle class. The federal poverty line helps you determine whether you're poor, but no single measure tells you where you fall along the middle class spectrum. Feenix is right, that is a storyline the left wants you to believe because they have an agenda attached to that belief and it isn't promoting freedom.
You want to fix the problems, start at the foundation, not at the penthouse. The foundation is rights bestowed by God, morality set down by God, and a world view based on freedom, not more government control.
Today everything is a ruse to cover for ulterior motives and hidden agendas. For example how many politicians say they are going to fix the Campaign finance problem with "reform." They've already tried that and all "reform" means is how to find different & bigger obscene ways to raise money. Oh, and how the masses want to see campaign finance reform! It's the ruse of this century. Common sense tells you if you really want to stop ludicrous funding by special interests and the rich and powerful, and if voters seriously want reform, stop voting for people who raise hundreds of millions, now billions, of dollars. We know who raises how much, the only logical way to institute campaign finance reform is to not vote for those who are getting the big money. Anyone raising that kind of money and standing for Campaign finance reform is a charlatan and hypocrite. Just don't anyone vote for them. I'd be the first to vote for the candidate who ran on the basis that to stop abuse in finance don't vote for the people with big money backing.PERIOD! After losing elections due to a grass root movement on that platform there would be no campaign finance problem ever again. After being duped so many times, why can't voters see the obvious?
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