The Mudcat Café TM
Thread #154844   Message #3640708
Posted By: Stu
09-Jul-14 - 03:04 PM
Thread Name: BS: The crisis of capitalism in the USA
Subject: RE: BS: The crisis of capitalism in the USA
"The capitalist philosophy is almost a genetic trait in cultures; it is the only game in town"

Well history disagrees with you there. Modern capitalism didn't even exist before the 1700s. Although trade was widespread before then economies were not based on capitalism, but often on the labours of a large underclass that supplied the goods. Governments taxed individuals or areas in order to generate wealth.

So although trade is as old as humankind, it is very wrong to suggest it is capitalism. Other cultures also were more agrarian in makeup, small communities would survive as hunter gatherers as part of a more balanced system of ecosystem and resource management. There were feudal systems, dictatorships and lord knows how moony other economic systems apart from capitalism.

What are the alternatives? Communism has never been tried properly, socialism needs tweaking to accommodate entrepreneurship and trade, but has greater moral and ethical integrity than capitalism, which as economic system that has started to replace democracy; a revival of feudalism based on wealth rather than birth.

The irony is that the very riches we were promised by the capitalists have never appeared. Trickle-down was a fundamental miscalculation of how the non-redistribution of wealth would occur.

In the end capitalist excesses must be regulated, or the system will fail. We cannot continue to use finite resources to fuel growth because they're, er, finite. We need to remove infrastructure and healthcare and welfare from the control of capitalists as we do with the military, and we need to ensure energy is nationalised for our own security.

So some form of socially democratic system incorporating capitalism would make sense; keep the ability to innovate and develop but encourage long-term thinking.

I'm guessing this won't happen, but throughout history when a small elite holds all the aces, when life becomes difficult or dangerous for people then the pitchforks come out. It's happened to much longer lasting civilisations than that of the modern capitalist states of the Americas, Europe and the Far East.