I’m sorry but I get really worked up by people making jokes of this. We are witnessing the undeveloping of a european union country. There is something systemically unsustainable in western capitalism and unless there is a fundamental transformation in our markets, wealth structure, and moral beliefs the first world will continue undeveloping.
I am by no means suggesting socialism is the answer. I am graduating with an MBA from a prestigious american university at the end of the year and I’m mad as hell. Now that the criminal negligence and moral lapses in public and private leadership are so obvious to me, and yet remain so elusive to many of my classmates I am very pessimistic about the next decade.
I like capitalism, but I love competence.
What makes it unsustainable is Gov't intevention in capitalism, not capitalism itself.
“There is something systemically unsustainable in western capitalism...”
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Specifics?
Examples?
Maybe we ought to let capitalism actually WORK, relatively unencumbered, before we make blanket, academic statements.
“I am graduating with an MBA from a prestigious american university at the end of the year and I’m mad as hell.”
... About the ridiculous tuition you paid? Or that you bought into the prestigious thingy? Sorry, target rich environment, that post was.
“Now that the criminal negligence and moral lapses in public and private leadership are so obvious to me, and yet remain so elusive to many of my classmates I am very pessimistic about the next decade.”
Next decade is amazingly bright - in Asia. Go west, young man! More initial public offerings are happening in Asia than in the USA and London combined (so I’ve heard). Our country is being choked by loss of liberty, over-regulation, freeloading bums, non-elected rule-making weasel agencies, over-taxation and lack of balls by those elected. In the meantime, Asia continues to rise. Go to Singapore. Good luck.
Greece will eventually leave the Euro. So will Spain. So will anther biggy by the time this is over.
It's that simple. When writing the American constitution our Founders were very preoccupied with finding the right amount of democracy for the republic as democracies always turn into tyrannies as the people learn they can get more from voting than from working.
The Peruvian economist, DeSoto, has a good book about what is
missing in expecting free trade capitalism to alone establish prosperity.
http://www.demographia.com/bk-desoto.htm
It is admired by many for its insight.
The Greek people are a wonderful bunch. The nation has taken a wrong turn many decades ago. It expects things from government that only can be given a the cost of ruination. The bill has arrived and they hope to not pay.
I like capitalism, but I love competence.
You sound like a TFer (Ticker Forum).
Stop the looting! Start prosecuting! We want the Greeks to tell the EU to stuff it, like Iceland did.
Capitalism without any moral underpinnings invariable devolves into the nasty stew we see before us. Of course socialism devolves into a nasty stew even faster, since the recipe is for nasty stew.
Utter and absolute BullC*ap. Capitalism is the only system that advance civilization. Socialism is the cancer that destroy Capitalism.
I am by no means suggesting socialism is the answer. I am graduating with an MBA from a prestigious american university at the end of the year and I’m mad as hell
If it is prestigious university then it is almost certain that you have been utterly brainwashed to never see the moral good of Capitalism. MBA programs are infested with leftists statists. The single reason the US became the worlds economic superpower is because government was wise enough to let people be free and allow Capitalism flourish.
Now our corrupt government is destroying our Republic via socialistic, statist programs.
I strongly suggest you study the works of Ludwig von Mises, F.A. Hayek, Eugen von Böhem-Bawerk, Milton Friedman and others.
Read Mises's Economic Freedom and Interventionism and Planning for Freedom Read Hayek's The Road to Serfdom then his other masterpiece, The Fatal Conceit. Milton Friedman classic, "Free to Choose" is an easy read.
Read the masters of Economic Liberty and you will clearly understand that only Capitalism will allow civilization to advance.
If, for the past one-hundred years, we did not have the advancing cancer of Statism,(that is, if we had true Capitalism) then I have no doubt the Moon would be colonized and Mars would be a popular vacation and working destination. Government is the single reason that we have major problems today.
No. Capitalism is the only solution. Get government out of the mix.
Greece is just a side show. The real battle is here and now.