solarz
Brigadier
A free market is inherently unstable, but that doesn't mean it can't be efficient at the same time.
A free market needs rules and regulations to keep it from crashing or collapsing into monopolies.
Miscellaneous News
- Thread starter bd popeye
- Start date
A free market is inherently unstable, but that doesn't mean it can't be efficient at the same time.
A free market needs rules and regulations to keep it from crashing or collapsing into monopolies.
solarz
Brigadier
Yes, the boom bust cycle is a feature of capitalism, and that is one of the reasons why Capitalism itself is inherently a transitory phase.
You can see this in virtually every Capitalist country in the world. Nobody (willingly) practices pure Capitalism. There are always laws and regulations to keep Capitalism in check, and that always results in a struggle between those who want more of such regulations (the "Left") and those who want less (the "Right").
Pretty much if you go too far to the Right, you end up back in Feudalism. If you keep going to the Left, you eventually fall into Socialism. Whether or not that would be a successful Socialism is another matter. Success is about more than an economic model.
They always bring that up about suing China, but that is impossible.
Without sovereign immunity, there is no basis for the international system of how countries deal with each other.
Also, that opens the doors for all other countries to sue American interests inside their own. Latin America will sue Uncle Sam's ass off. Do not know what will happen to all US patents either, or patents in general.
This idea about suing China, just ranting from a powerless people.
Haha, my rightest friend. Yes, capitalism recovered, in the sense, it has not died, yet.
It is weakened with every such crisis and crashes. The 2008 crisis enabled an alternative system, namely socialist China to catch up, as a socialist system is immune from such crisis.
The crisis in the capitalist system is getting more acute. The U.S. is now at its weakest, relative to other countries, especially China.
The U.S. corporate debt leverage is now twice as much as pre-2008, and personal consumption loan as percentage of GDP is also at historic high. Not to mention budge deficit and government debt.
Capitalism is on leased time. The next crisis will make 2008 look mild. So, speculate in the market while it lasts, as it definitely won't last too long.
Very true. To fully take advantage of a superior economic model, there must be an advanced political system to go with it. It is like computer hardware and software. A computer can run faster with better hardware, there won't be a super-computer without advanced operating system.
Moreover, socialism needs democracy (for the working people, not only the rich) more than capitalism, as the socialist state must guide the economy according to people's needs and their personal interest, while a capitalist one only needs to serve the market, which controlled by the capitalists.
manqiangrexue
Brigadier
@spring2017Proponents of socialism have theory after theory glorifying socialism and pointing out the problems of the free market and capitalism. The only thing they don't have is real world results, which all belong to free market/capitalist systems. As long as we stay in the realm of theory, socialists can debate; as soon as we ask why socialist states have all failed in the real world which is dominated by free market capitalism (with regulations), they go silent. In other words, socialism is all excuses, no substance.
solarz
Brigadier
There is China.
manqiangrexue
Brigadier
I couldn't possibly forget about China. China's not really socialist anymore; it was decades ago, and it is still in name only. Nowadays, everyone in China works his/her ass off for the rich elite and to become the rich elite and there is nothing more frightening to them than being poor. In this aspect, it is more capitalist and cut throat than the most competitive of Western capitalist nations. Since China integrated more and more capitalist/free market strategies into its system, it has moved away from real socialism and towards real success.
My friend, a free market is very efficient to make the rich richer. But it is every inefficient to serve the needs of the public.
Unfortunately, even with rules and regulations, the crashing and monopolies cannot be stopped. As evidenced by what is going on in the U.S. and other capitalist powers.
Moreover, while rules and regulations lesson the severity of crisis, it kills the animal spirit, and stifles capitalism, making it even weaker.
So, without regulations, capitalism will have quicker death; with regulations, it will have slow death.
The end result is the same.
manqiangrexue
Brigadier
And socialism is already dead. That's the end result.