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 ...
1] More and more income shifts to fewer and fewer people. 2] How many more frequent recessions/depressions can our democratic system accept before capitalism disappears.
Prosperity requires economic progress, and economic progress requires increased production and this requires capital accumulation,technological progress, and increases in productivity of labor. Increases in productivity of labor requires a division of labor economic system, and this requires the institutions,values and economic laws of capitalism.
What are the alternatives?
mixed economy and socialism
We opened our borders to immigrants and slave produced products. Stop both of those and yo will see a recovery.
I believe you are right but what you advocate isn't cheapest wage capitalism.
I was just going to say basically the same thing.
Karl Marx's whole theory was that "capitalism had had its day." That's what Das Kapital was about, and it was published in 1867, almost 150 years ago.
Same with "peak oil" and "peak food," Malthus, Erlich and the rest of the sorry parade. People who thought the world would be great if only there weren't so many people besides themselves and their families in it.
Sorry the way economics is taught it doesn't include a concept called YOUR COUNTRY FIRST. They way economics is taught it is economic suicide. The economy is based on the moral underpinnings of the country and our freedom. When you import from lesser countries you import their morality and values.
Another freeper jim noble put it better than me:
I live in a 99.98% white town. We have a reasonable high school with a GREAT vocational program. Really smart kids leave town and go to Stanford, Duke, and Harvard. Lots of kids go to UNH.
Lots also stay. Their parents are, or were, line workers making clothing and small electronics.
When you say the bottom half of the white population have to "compete", what exactly do you mean? Compete at what? Compete with whom?
These people will ALWAYS need a place to go to work where a supervisor tells them what to do and how to do it, in exchange for good effort, regular attendance, and reasonable output.
They are not going to start writing code and starting social media companies.
If they don't have work, they will provide a steady supply of depression, self-harm, petty criminality, and drug use.
That's not what I want for the future of America.
And the situation in Greece and the consumer goods shortages in Venezuela prove that socialism doesn't work in the 21st Century, either.
FAIL.
Communism is where the Government [State] controls production. Although product prices are low, production suffers through inefficiency. There is no incentive for the workers to produce anything but the bare minimum, with the result that there is never enough for everybody. Nobody works hard as they are poorly paid as a result of the price controls, as well as theft, graft and gross efficiency.
Communist leaders attain power by promising everything to everybody, coming from the all-powerful State. But as it turns out, the only ones getting everything that was promised are the leaders and the elite who are trusted to run the means of production. Everyone else, and I mean the people, get to wait for what scraps remain after the leaders plunder the people's labor and production. That's the end result of Socialism/Communism, every time. Beer lines, anyone?
The effect of modern day liberalism and bloated legislative processes on capitalism is analogous to encrusted barnacles on the hull of a sailing vessel.
Industry cannot thrive unless money can be made. If money can be made from it, then people will invest in, and engage in industry in order to make more money, and everyone benefits from it.
If money cannot be made because entire volumes of legislation, litigation, and excessive taxation preclude that and only serve the purpose to transfer wealth at the expense of the rich instead of allowing the creation of wealth, then...money will not be used to create more wealth. Why would anyone who has accumulated wealth invest it where it is certain to evaporate?
Aw. Every good communist knows that you have to have a thriving capitalist system before the looting begins. Consider the starting point of all other Communitarian attempts and you realize there’s no there there. Nothing from nothing leaves nothing.
Yes, exactly.
Capitalism leverages the decision making process of millions of people to drive goods and services where they are needed most.
The fabled “Invisible Hand” that liberals like to ridicule.
Liberals like to place the decisions on how to distribute goods and services into the hands of “smart” people...you guessed it...Liberals.
“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.”
Sounds like a recipe for a new Dark Age.
“Social Justice” - a new way of saying, “To each according to his needs and from each according to his ability”
“Sustainable Economy” - economic policies established by an iron fisted Politburo. Remember all those wonderful “five year plans” by the Soviets?
To the hunter gathers in an essentially unpopulated world, the abundant food that often surrounded had a cost, often a steep cost. The markets and barter system of Neolithic people can be understood in capitalist terms though they weren’t strictly capitalism. Communism has an extremely high cost of goods and often existed thanks to underground or black markets.
If you said socialism you might have a good point. Marxism is a theory for one variant of socialism, but it's not the only one.
Conceivably, all Marx's predictions could be proven untrue and rejected, but there would still be some kind of socialism or some sort of anti-capitalist impulse.
It reminds me of the routine about Halloween costumes on Community:
Troy: I'm a dracula.
Abed: You mean a vampire?
Troy: I don't need to know which dracula I am to be a dracula.
Marxists are socialists, but I don't think all socialists are necessarily Marxists.
That only lasts so long. It only lasts until the money runs out and the machinery rusts away.
They better hope not. Without capitalism, who is going to pay for all the socialism?
Socialism has had its day.
Sustainability is not sustainable.
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