Posted on 07/02/2015 12:18:53 PM PDT by Citizen Zed
Award-winning economist and journalist Paul Mason believes that, in the wake of the financial crisis and with the rapid rise of new technologies, we are on the cusp of a seismic economic shift – of a kind yet to be seen in human history.
He argues we have a golden opportunity to shape a more socially just and sustainable economy with the emerging forces of information technology, rapid scientific advancement and free, easily shared goods.
On 22 July, Paul will debate the issue at a Guardian Members’ event. The panel will include Douglas Murray, associate director of the Henry Jackson Society and Spectator columnist, Zoe Williams, Guardian columnist, and Pat Kane, writer, musician, activist & director of The Play Ethic to debate the future of capitalism.
But is capitalism really dead? The king of all economic systems has thrived for more than 500 years, seeing off major competition from communism and socialism, time and again proving its resilience in the face of big economic and social crises, emerging transformed, reinvigorated and more powerful than ever.
We want to hear what you think - before the event. Has capitalism had its day? What are the alternatives? Do you follow any other economic models? Is this really a golden opportunity to create a fairer, more sustainable society?
(Excerpt) Read more at theguardian.com ...
"Award winning" or not, if he was a REAL economist then he would know that NOTHING is free.
Since he does not, then he is just another lib-tard pseudo-economist.
In other words, the technology that a free market capitalist economy produced can now allow us to do socialism better. Right.
Has Capitalism had its day?
For now, since we don’t use it anymore.
After a sufficient period of collectivist utopia, it will rise again.
The thirst for freedom always reawakens.
Either it is a free market, or it is essentially Marxism.
Call it whatever you want, but the alternative to the free market is an authoritarian command economy with little freedom. The hope that new and higher levels of technology will change that is a pipe dream.
There is nothing that can artificially replace the trillions of intricate, infinitely complex social-economic decisions at every level of the economy that makes the free market superior. To act otherwise is to have to learn, again, another painful historical lesson in economics.
And the Marxists do try to re-name themselves every so many years in the hope that something will eventually stick. Today it is “Progressive”.
Free markets were around before states/governments/empires, and will be when they are gone.
“Free, easily shared goods”
When you figure that one out, give me a holler.
Seems like Capitalism is the only system that really works over the long haul.
It will come and go over the years when the hunger to strive dies out from good living, then after famine hits, the worthless people die out it will be back only to die out again.
Something for nothing: The oldest siren song since the dawn of mankind. And people never fail to fall for it.
Capitalism depends on GOD fearing participants.
In many ways, yes. However, USA was and is built on private enterprise; capitalism is a subset thereof. One of way, is that it implies or has come to be tied to *-money-from-thin-air-* which is going to destroy much of earth, on par w/ nuclear war. Wait for it, it is coming quite near...
The only reason National Socialism failed is because it wasn’t tried by the right person.
Hillary is the right person.
HILLARY! HILLARY! HILLARY!
ALL HAIL HILLARY!
WE SALUTE YOU HILLARY!
Nothin says lovin like a capitalist in the oven.
Let’s see. What do you call information, which used to be time-consuming and expensive to acquire, and is now basically free? Anybody can go to my local library, sit down at the free computer, and have instant access to information that 20 years ago would have taken years and large amounts of money to access.
Productivity is the amount of human effort it takes to produce X amount of stuff. It’s been going up since the start of capitalism. Project the curve at any exponential rate of increase and eventually you reach a point where (almost) infinite goods are produced with (almost) zero human effort.
If machines are doing all the work, do we just give those who happen to own the machines at the point they become self-sustaining and their descendants dominance in human affairs forever?
Capitalism has always been renowned most for its creative destruction. Quite possibly its last act will be to creatively destroy itself.
Here’s the problem. The purpose of a market is to efficiently distribute scarce resources. What purpose does a market have if resources aren’t scarce? If the work most people are capable of doing has no economic demand, or if at least the number of such jobs greatly exceeds the supply of workers.
Unlike the authors of this piece, I think such a future, with government distributing resources produced by machinery, is an object of fear and loathing. It’s certainly unlikely to be more fair and just.
I would much prefer some kind of libertarian alternative to government distribution of goods and services, I just don’t know what it might be.
We have Crony Capitalism now, where government and big business conspires to screw the little guy. Capitalism had problems specifically BECAUSE OF GOVERNMENT INTERVENTION THAT MADE IT WORSE. The folks in government are every bit as corrupt as the aspiring oligarchs who conspire with them.
More government is only a recipe for ever increasing corruption, more failing economic performance, and oppression of the citizens. In America these days, the fox is “guarding” the hen house.
A prospering economy and prospering citizens are only the result of two combined things: freedom - and a moral people.
Both are rapidly disappearing from our nation.........
Socialism, but this time the right people will be in charge.
This article begs a Freeper response.
I am not a genius, but I did stay at a Holiday Inn recently...
It really is as simple as human nature....
People exchange goods and services. Bartering or a form of currency facilitates the exchange. What I have just described is a market, with SCARCITY as the catalysis.
Capitalism facilitates markets to produce the biggest bang for the buck. For an example food, electricity, etc. that have made western civilization possible.
Economics is not taught in the schools anymore. We're doomed.
5.56mm
Capitalism will still exist - but only a select few will be able to participate in it. It’s the new and improved pay to play on steroids.
I think he is correct quite frankly but that’s where we diverge. He would argue, does argue, that capitalism is inherently evil. I do not.
However, mega-corporations are NOT capitalism. Mega-corporations are government by corporation. There is no competition of significance. The drive is no longer creation but acquisition. There is no longer a balance. And what little hope we had left is being bought up.
So while he and I come at this very differently, we both conclude that capitalism is, essentially, dead.
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