I disagree with Marc's conclusion. Capitalism is not a failed system. Any failure is due to inadequate regulatory and legal safeguards that must control the excesses inherent in Capitalism. The goal of capitalism is not to concentrate wealth, any more than the goal of a gasoline car is to exceed the speed limit. Those safeguards that mod…
I disagree with Marc's conclusion. Capitalism is not a failed system. Any failure is due to inadequate regulatory and legal safeguards that must control the excesses inherent in Capitalism. The goal of capitalism is not to concentrate wealth, any more than the goal of a gasoline car is to exceed the speed limit. Those safeguards that modulate the risk of capitalism include the right for collective bargaining, anti-monopoly rules, environmental protections (Sacramento air quality remains unacceptable), etc. Without a middle class, capitalism cannot work, just like feudalism did not work for Tsarist Russia or for the French before 1789.
Marc, what economic system would you recommend instead of capitalism? Let's not confuse socialism with capitalism. Capitalism is the engine for wealth creation. Socialism is the method to redistribute that wealth to support dignity and humanitarian needs. The only alternative to capitalism is communism with does not work. So we should accept capitalism,. Improvement requires better regulation and an appropriate amount of socialism. It's a complicated balancing act.
I disagree with Marc's conclusion. Capitalism is not a failed system. Any failure is due to inadequate regulatory and legal safeguards that must control the excesses inherent in Capitalism. The goal of capitalism is not to concentrate wealth, any more than the goal of a gasoline car is to exceed the speed limit. Those safeguards that modulate the risk of capitalism include the right for collective bargaining, anti-monopoly rules, environmental protections (Sacramento air quality remains unacceptable), etc. Without a middle class, capitalism cannot work, just like feudalism did not work for Tsarist Russia or for the French before 1789.
Marc, what economic system would you recommend instead of capitalism? Let's not confuse socialism with capitalism. Capitalism is the engine for wealth creation. Socialism is the method to redistribute that wealth to support dignity and humanitarian needs. The only alternative to capitalism is communism with does not work. So we should accept capitalism,. Improvement requires better regulation and an appropriate amount of socialism. It's a complicated balancing act.