CAPITALISM an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. That's ALL it is.Good point. Thank you. I don't think Africa has ever experienced true Capitalism, except perhaps in a few special exceptions. Please someone correct me if I'm wrong. Bring along some examples and trustworthy links. what is "true" Capitalism?That usually refers to laissez faire, or unregulated, capitalism. Repubs think that should be the goal. Some Dems think regulated capitalism should be the goal. The Repubs are wrong of course for the same reason they're wrong on so many issues. They're stupid. By analogy, think of Abstinence Only as the way to control unwanted births. Repubs think that works. The truth is, it doesn't, research proves it, and that's that. But Repubs are incapable of rational high level reasoning. They're black and white thinkers. Capitalism is the same. In theory unregulated capitalism should promote creativity and competition for the benefit of all. In reality it leads to a short period of creativity and competition until multiple competitors are in a market, and the profit margins grow slim. Then those same corporations try to buy government officials into creating monopolies for them. Or they want welfare. Or worse yet, they collude with their competitors to prop up profits for all of them, cut back on competition and creativity, and move to the pay more for less model. Capitalists often succeed in those last three things you've mentioned, so they contaminate their own model.[/quote Capitalism leads to monopolies with the concetration of wealth and power. Just a marx predicted 150 years ago Which is what we have in the US. Which is a good thing LoisL??
It's funny hearing people talk about "capitalism" as if it's something we have any experience with these days.. What can be said about capitalism in a time when mega corporations own everything and tell our government what to do based on nothing but self-interest, maximizing profits and bonuses while minimizing all other expenses.What you speak of is capitalism. And it is a disease.
What’s with the Nazi adoration?