The Absurd Contradictions of Capitalism

[Cigar]

http://24.media.tumblr.com/76b55c86576d7042fa758c4e066b768c/tumblr_mgxnszZ2VU1r6m2leo1_500.png

Examples of what happens when you neglect to ensure that capitalism serves the needs of the people.

[Chris]

Where's the contradiction?

[Mainecoons]

Not surprised Cigar doesn't either understand or support capitalism since he lives off of government contract handouts given to him because of his skin color.

It's a nice deal, though, allows him to spend his "working" hours spamming this board.

[Chloe]

Unchecked capitalism can turn into horrible horrible greed. I think businesses deserve to be able to make a profit, but when profit becomes all that matters then the system lacks morality and any sort of hope in my opinion.

[Chloe]

For example for most hard core capitalists and big businesses if I said to them, "hey after you pay all of your employees, your taxes, your fees, and anything else that you have to pay in order to keep your business going you should donate the rest of the profit to a worthy cause, charity, or human rights organization" I'm pretty sure that they would all look at me like I were crazy. Greed can blind people in my opinion and while capitalism has a lot of good qualities if it goes unchecked and left to go full blown profit making then the greed and bad side of capitalism easily dominates.

[Chris]

Unchecked capitalism can turn into horrible horrible greed. I think business deserves to be able to make a profit, but when profit becomes all that matters then the system lacks morality and any sort of hope in my opinion.

Man is by nature greedy, you can't change that. Capitalism is the economic system that channels it by an invisible hand toward good for society. Socialism channels it to serve only central planners.

No problem regulating people to honor contracts, to do no harm, etc.



...when profit becomes all that matters then the system lacks morality and any sort of hope in my opinion.

But that is fostered by government with The misguided practice of earnings guidance (http://www.uic.edu/classes/actg/actg516rtr/Readings/Markets/Earnings-Guidance-1-McKinsey-Full.pdf). Such regulation incentivizes a focus on short term profits over long term development, growth and wealth.

[RightWingExtremist]

Reasons Against Socialism


Higher Cost: Obviously socialism has a higher cost than other forms of government, thus taxes are high in socialistic countries. Socialistic countries tend to have a much higher debt ratio per citizen.

Less Entrepreneurships: Higher taxes means it is much harder for entrepreneurs to start new companies and/or restrict existing companies from being very dynamic. For instance, a company that is undergoing economic troubles may not be able to lay off their employees in order to save the company from bankruptcy thus saving the jobs of all of their employees.

Less Rags-to-Riches: Socialism reduces the desire of the poorest people to work harder, get a higher education, and innovate, since they are guaranteed a minimum standard of comfortable living. As a result, fewer people that are born poor become rich.

Big Government: More taxes means a bigger government, bigger bureaucracy, and more power in the government’s hands. Since governments are slow to change, big government tends to mean stagnation and less innovation that individual small companies could more easily attempt or adapt.

Communism: Some believe that socialism is the first step to communism (basically equal pay, no rich or poor). Historically communism has failed in every country that it was attempted because of lack of motivation to produce goods, and most socialistic countries do realize the fact that communism does not work. Moreover, communism is not the guaranteed outcome of socialism. Rather, communism is an extreme form socialism. For instance, in the capitalistic country of the United States of America, they have Social Security for their retirees, yet the USA has almost no desire for communism to speak of. As a result, socialism does not imply communism.

Inequalities are the Norm: It is impossible to completely remove all inequalities via socialism. As a result, socialism does not work completely. Socialism only attempts to reduce inequalities.

[Cigar]

So what happened during the Bush Presidency was too much Socialism?

[Chris]

So what happened during the Bush Presidency was too much Socialism?

Yes. Too much liberal socialism, like the Medicare Drug Bill, and too much conservative socialism, crony capitalism. With, under Obama, even more, Obamacare, and more crony capitalism.