The Case Against Capitalism

wow are you confused. Sad. In 1929 libsocialist govt had massive socialist control of economy and in recent crisis they had massive control too. Difference is that socialist govt knew what to do this time to prevent depression.

But, most importantly, if we had had capitalism in 1929 and now there would have been no problems to begin with since capitalism is self-correcting. Now are you getting it?

 

I don't see it that way. Capitalism should be one part of a dynamic system. Faulting it for the restraints seems a little naive.

I cannot think of another economic system that drives productivity better.

The biggest problem with the current state of capitalism is the influence of the investment/insurance banking industry. The production of wealth through market manipulation weakens the capitalist system as much or more than any government influence.

 

wow, you are even more confused. Capitalism died in 1929 and had to get bailed out by socialism, like usual. Why do you believe that didn't happen?

 

The Fed did next to nothing during the Depression. It sat on its hands and refused to intervene while the banks were spiralling into disaster. This is how capitalism failed without state intervention.

But this is besides the point. This thread is about the case against capitalism, not against unregulated capitalism, and capitalism + the Fed is still capitalism. As are the economies in Europe and Asia which are more dependent on the state's actions than the US, but still have private property and markets.

How so? A central feature of economies based around private property and markets seems to be periodic crises, and since the latter half of the 20th century, government intervention has been the way out of these crises (they sometimes exacerbate the problem, but that's because capitalism is an increasingly precarious balancing act).

 

wow, you are even more confused. Capitalism died in 1929 and had to get bailed out by socialism, like usual. Why do you believe that didn't happen?

 

how could capitalism die in 1929 when there was no or little capitalism??? Fed was created in 1913. 1913 is long before 1929. To be exact, 16 years.

 

how could capitalism die in 1929 when there was no or little capitalism??? Fed was created in 1913. 1913 is long before 1929. To be exact, 16 years.

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how could capitalism die in 1929 when there was no or little capitalism??? Fed was created in 1913. 1913 is long before 1929. To be exact, 16 years.

 

Yes, and, we had much less socialism then than we do now. It is that comparison. And, the Fed financed WWI.

 

no , actually an equal amount when speaking of your subject which was the Great Depression because Fed had total socialist control in 1929 and in 2007. Are you able to grasp it now? You lied and said 1929 was a failure of capitalism when actually it was failed socialism or the failure of complete libgovt control.

If you're a goof socialist why not try to just say why rather than rely on history when you don't know history?

 

Dude, it is like claiming we don't have more laws than Ten simple Commandments for laws. Of course we had less socialism then. And, what specific total control are you referring to? Why were there runs on banks, if the Fed had that much control?

 

I expect that the FED took those controls in response to any bank runs.

Socialism is a common response to perceived emergency.

That's why those who seek socialist power perceive so many emergencies everywhere, I'm thinking.

 

Congress makes the laws that affect everyone, including banks.

And, socialism starts with a social contract like our Constitutions.

 

in terms of control of the banking system the govt Fed had absolute control in 1929 and 2007. Now do you understand?

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because the stupid liberal Fed elected not to stop the runs on the banks!! Now do you understand?

 

and so does capitalism. And????????????

 

I understand that you don't seem to know what you are talking about. We had less government intervention in the 20's and 30's than we did during and after WWII.

Banks and consumers have recourse to deposit insurance now; not then. Now do you understand?

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No, capitalism doesn't start with a social contract, it starts with a capital contract.

 

you said 1929 was a failure of capitalism because you had no idea that the Fed was created in 1913 (before 1929) and is now credited with causing the Great Depression. Do you understand now that lib govt intervention caused the Great Depression, not capitalism?

 

oh, can you show us a capital contract??????????

 

Capitalism is a Property Theory that only states who should control the means of production (Capital). Your Economic System is the Free Market System.

Are you opposed to private individuals owning/controlling Capital or are you opposed to the Free Market System answering the three basic questions?

 

what 3 questions?

 

Capitalism died and had to get bailed out by socialism. Hoover advocated laissez-fair capitalism and the People started living in Hoovervilles. FDR had to use more socialism to bailout capitalism, like usual.

Capitalism has boom and bust cycles. It is socialism and truer command economies that eliminate that cycle, usually.

We got more socialism after 1929. Your claim that the Fed controlled everything is incorrect. And, deposit insurance wasn't created until 1933.

 

I understand you have nothing but a fallacy of composition, to work with. We had less government regulation before the stock market crashed and ushered in the Great Depression.

Runs on banks could not be prevented, then. We have deposit insurance now. That is what I mean by socialism bailing out Capitalism, like usual.

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I said capitalism failed in 1929 and FDR had to use massive amounts of socialism and outright communism of the Second World War to achieve full employment.

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Here you go:

 

but you thought capitalism caused the crash of 1929 until you learned that liberal Federal Reserve policy caused it. Why not admit it like an adult and move on??

 

pure liberal lie or pure ignorance. The Fed was designed as lender of last resort and supplied all the money it thought necessary at the time!!

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and now you know you were 100% mistaken. I trust you have the character to learn?

 

capitalism died in 1929; then, socialism had to be used to bail it out. Federal reserve policy only prolonged the depression, it did not create it. However, back then, economics was much less well understood.

 

Not all banks have access to the federal reserve or cannot get loans from other banks. Money is what banks deal in; they can't do business without their depositors money.

Capitalism died in 1929; and socialism has been carrying it ever since.