The Mudcat Café TM
Thread #119265   Message #2590325
Posted By: Amos
16-Mar-09 - 03:26 PM
Thread Name: BS: Capitalism has outlived its usefullness
Subject: RE: BS: Capitalism has outlived its usefullness
AKe:

You may have missed the fact that technology which is profitably produced does in fact benefit humanity. The Cat is an excellent example.

Capitalism is not the same as corporatism although they often seem joined at the hip. This is a semantic point: if you use the word to mean "everything I don't like about big business" you will be having a very muddy conversation indeed, which very much seems to be the case here. There are specific weakness in the use of capitalism which I commented on up above, one of which is the concentration of money, another of which is the concentration of influence in the hands of a relatively small number of people. These are egregious flaws, no question. But they are remediable without changing the basic definition of capitalism.

For another example, the establishment of national Central Banks which are granted the right to create money by fiat is not inherently part of capitalism. But it is the seed of much harm.

A