Opinion: Capitalism is killing America’s morals, our future

Market Watch ^ | May 26, 2015 | By Paul B. Farrell

[Oldeconomybuyer]

Yes, capitalism is working ... for the Forbes Global Billionaires whose ranks swelled from 322 in 2000 to 1,826 in 2015. Billionaires control the vast majority of the world’s wealth, 67 billionaires already own half the world’s assets; by 2100 we’ll have 11 trillionaires, while American worker income has stagnated for a generation.

But for the vast majority of the world, capitalism is a failure. Over a billion live on less than two dollars a day. In his “Capital in the Twenty-First Century,” economist Thomas Piketty warns the inequality gap is toxic, dangerous. As global population explodes from 7 billion to 10 billion by 2050, food production will deteriorate. Pope Francis adds, “Inequality is the root of social ills,” fueling more hunger, revolutions, wars.

[catnipman]

“But for the vast majority of the world, capitalism is a failure.”

Indeed. Like Venezuela for example, one of the richest nations in the world in terms of oil deposits, and yet inflation is running at over a 100% per year and RAPIDLY ACCELERATING. Where food, medicine, drinking water, toilet paper, and baby diapers are nearly as unobtainable for the peasants as, well, Unobtainium. Except of course for those rich capitalist one-percenter pigs at the top of the food chain there. They can buy anything they need.

Clearly, Venezuela is the prototypical example of the failures of capitalism, and we should all take heed. Well done “Professor” Sanders for bringing the failures of capitalism to our attention!

[GraceG]

So if I have 2 widgets and Paul has 2 wingdings and I could use a wingding and Paul could use a widget we decide to trade. But since it costs more to make a wingding than a widget I give Paul a widget and 50 clams, that is somehow a horrible horrible thing..?

Maybe me and Paul are supposed to give all our wingdings and widgets to Frank who is the president and he can hand them out as needed but then I get shafted on my 50 clams, and Frank will claim that cost of moving around these items means that i just have to give them up completely?

Voluntary Goods exchange = EVIL, in the mind of a soulless commie....

[gr8eman]

Funny how all of these “Capitalism is Evil” parrots never cite statistics such as cost of living and GDP numbers (per capita) of socialist versus capitalist countries. What do you think these folks would say if they had to pay 8 bucks a gallon for gasoline “just because it’s fair”!

[mjp]

For more than three decades Sandel’s been teaching us why capitalism is undermining human morality ... and why we keep denying this insanity.

The moral justification of capitalism is not that it serves the public. Capitalism does achieve the "public good" (appropriately defined), but this is an effect,not a cause; it is a secondary consequence, not an evaluative primary. The justification of capitalism is that it is the system which implements a scientific code of morality; i.e., which recognizes man's metaphysical nature, needs and natural rights; i.e., which is based on reason and reality. A secondary consequence of such a system is that any group who lives under it and acts properly has to benefit.

[nathanbedford]

I think you have written a profound reply.

There is virtue in humility, not a humility of hand wringing and self-pity but a consciousness of the proper relationship between man and God. That virtue is essential not just for a free market system, or for a successful democracy, but for civil society and a decent life in that society.

The God Player, who is these days described as an elitist, instinctively understands that there is room in the universe for only one God. It is an eternal fight to the finish for generation after generation for which there can be no accommodation, no armistice no peace.

The God playing elitists have their allies furnishing them with freshly minted rationalizations to fit the tenor of the day: the Frankfurt school, Saul Alinsky, Hollywood, and countless others are all eager to destroy whom they instinctively recognize to be the author of their frustrations. This season they offer up sex, drugs and rock 'n roll… or is it a golden calf?

Against this array we have only ancient parables describing God and man, the essential relationship between them, and the eternal struggle to submit to that proper order. I am confident that those parables will be remembered after we have forgotten the ghost of Saul Alinsky.

[paulk]

The key word - and people here should be using it - is ‘cartel’. When our government protects a business from compitition by letting them write laws (yes - that is how it happens) that prevent new entries into the market - it is not a business - it is a cartel.

Almost all the new regulations passed are written by the businesses that they regulate. They want the first rung of the ladder to be too high to reach.

The new twist on this - instead of american businesses buying our pollitical folks - the money is comming from over seas - that is why they do the biddings of the Saudies and Chinese. Really stinks..