Capitalism as we know it is over, so what comes next? Varoufakis argues we're in a new economic era

Euronews ^ | 20/12/2023 | Marta Rodriguez Martinez & Tom Goodwin

[Sacajaweau]

Capitalism is alive and well. And my on line purchases proves it.

[Theoria]

We haven't had capitalism in decades. Capitalism has always centered around 'private' capital. We don't have that. Fed bailouts, .gov grant, artificial low interest rates, massive government spending, FDIC, LLC's, corporate protections, sovereign wealth funds, etc etc.

Certain points of risks have been removed from the market. Risks keep things in check.

[deport]

HELP, HOPE or QUIT

[ClarityGuy]

I think what's done us in more than anything else is legal positivism. It continues to function as a mental trap giving an aura of inevitability to the endgame as envisioned by those who control/manipulate the lawmakers.

For a solution we will need to revisit Natural Law as it was understood in the Middle Ages: the laws of nature and nature's God.

[plain talk]

Amazon killed capitalism? Certainly not this time of year. A lot of people are buying their Christmas presents through Amazon:-)

[Toddsterpatriot]

So Varoufakis is off by about 99%.

Commies are really bad at math.....and economics.

[SpaceBar]

The entire discussion is a moot point since what we’re headed for won’t be decided on by a bunch of academics or social planners. Forces far greater than mere ‘political ideology’ will shake things up real good.

[itsahoot]

Capitalism is alive and well. And my on line purchases proves it.

Yeah, this moron ignored completely the suppliers of Amazon products. The shipping industry alone requires plenty of employees. These same people constantly complain about corporate taxes being too low while ignoring completely all the taxes that are generated by their employees and the employees of people that supply those corporations. Sure Walmart destroyed a lot of mom and pop operations but they generate more tax revenue for the communities. The only thing constant about the market is constant change.

[Machavelli]

Yes, it is called Communism. Wake-up America.

[Qwapisking]

communists are not only bad at math and economics, they are also astoundingly bad at science and health. only a moron CAN’T tell there is a vast difference between a XY chromosome and a XX chromosome AND only an ideologue of unbelievable stupidity could honestly believe that socialized medicine leads to longer and better lives for those under the influence of its tentacles of deceit?
“eliminating any costs at any cost” is the new mantra and a math that isn’t good for “infirm”. be well my friends.

[KingofZion]

Crony capitalism is destroying America. The tech part is just one newer facet.

I am not optimistic about positive change because the politicians are greased by the corporations.

At some point there will be a another massive depression and it will result in major unrest as people go hungry. Those who have guns, hard assets (gold, real estate), and diversification will fare well. City dwellers with securities and bank accounts will not fare so well.

[unlearner]

At the heart of the problem is the application of intellectual property law, which creates artificial property.

Constitution ArtI. S8. C8.
“[The Congress shall have Power] To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries.”

Notice the phrase “limited times”? The problem we have is that the purpose of this power is to promote progress but we have a corrupt system whereby the actual authors and inventors are exploited to further enrich the wealthy and powerful through their acquisition of perpetual patents, copyrights, trademarks, and other IP.

Look at Microsoft for example. Bill Gates became the richest man in the world at the time using this type of gaming of the system and unethical exploitation. Microsoft’s Windows operating system has enjoyed a government-backed monopoly for more than four decades. None of the original source code has been released. Through controlled obsolescence and other unethical means, it is still the de facto standard for the PC in the constantly changing computer market.

Today computer technology, pharmaceuticals, agriculture, and endless other categories of human ingenuity are used to exploit the masses who are essentially bound by law to give up their natural rights in exchange for bread crumbs. We get the privilege of low-cost or free services in exchange for the total loss of personal autonomy and privacy.

Inventions and creative works that profit from IP law should become open source and freely available in a short time that is long enough for inventors and creatives (and their financial backers) to be well-compensated for their efforts but also so that the public can benefit for the short-term giving up of their natural rights to copy and use the progressive knowledge of mankind.

If any goods and services are not being driven by market forces into commodity status, the intent of IP powers granted to Congress by the Constitution are not being fulfilled.

Since human lifespans are short “limited times” should always be limited to a few years. After this, all IP should become open source and freely available.