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What are your plans for capitalism?

Define "capitalism."

If "capitalism" means simply "people can own stuff," then it encompasses such a wide range of possible social configurations that it is compatible with almost any kind of economic model.

If "capitalism" means "individuals can own productive assets," then it is probably possible to manage it in a way that gives acceptable results.

If "capitalism" means "what's good for Wall Street is good for America," then shoot it in the back of the head and dump it in a ditch. Then go back to Adenauer's, FDR's and Anker Jørgensen's economic policy and take it from there.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Feb 4th, 2010 at 08:36:31 AM EST
If "capitalism" means simply "people can own stuff," then it encompasses such a wide range of possible social configurations that it is compatible with almost any kind of economic model.

In addition, private property is right there in the Universal Declaration of Human Rights.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Thu Feb 4th, 2010 at 08:49:32 AM EST
[ Parent ]
That's a core issue, of course. Do we even have real agreement on what form of capitalism we currently have?
by Colman (colman at eurotrib.com) on Thu Feb 4th, 2010 at 10:50:27 AM EST
[ Parent ]
No, and this fact is deliberately used to muddy the waters. Far-right ideologues have no problem happily jumping from the first definition (which they'll offer as defence of capitalism), to the third definition (which is used to attack regulation as being anti-capitalist).

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Feb 4th, 2010 at 11:02:17 AM EST
[ Parent ]
like any tool, it can be used well or not.

exploitative capitalism is the problem, or perhaps it's the degree. nature responds quite favourably to being exploited wisely, gouged not so much.

also.

~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~

by melo (melometa4(at)gmail.com) on Thu Feb 4th, 2010 at 11:36:07 AM EST
[ Parent ]

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