In any case, I picked option three. It's not a perfect system, but at this point in time I believe it to be the best one, and I don't see anything around the corner that could work any better. 

 Love that second one. Really. 

Mankind has evolved and has had so many changes that I just can't imagine it giving up and admitting capitalism is the only "workable" solution for all times... Maybe not while we're alive, but one day it HAS to fall... It carries within itself the seed of its own destruction... 

Of course, that second statement is quite simplistic. If you equate socialism=communism, yes. If you equate socialism=a-system-with-regulation-and-some-level-of-state-intervention then the answer is a resounding no. A system in-between is the only answer... Not communism like in NK or Cuba, not Brutal Capitalism like people want here in the US. 

Thanks, Finn. 

It's Joanna Dark from the N64 classic ''Perfect Dark''. The version I have on my avatar currently is actually from a Half-Life 2 mod. 

Read my last paragraph. What you call socialism is really communism (or "real socialism", but was applied in reality in the soviet bloc and in southeast asia and in some hispanic countries). I'm not in favor of THAT socialism. I'm all in favor of the one that respects free market but doesn't treat it as a religion. 

Not even close . 

Well, if you have a 360, I highly recommend downloading Perfect Dark. It's a classic, one of the first console FPS games that actually worked, and still a lot of fun even today. Yes, that's a plug, but seriously, if you like shooters, not playing this game is just a sin. 

Of course, you should look it up first and see if it looks like something you would enjoy, but I really think you will. 

You watch FoxNews, don't you, my friend? 

Figured you did, since you apparently think Socialism is right around the corner. 

And meanwhile, the little people will be fooled thinking they own even a 0.0000001 % of the pie... 

I don't agree. 

Discuss

 

Societies evolve or die.

 

Eventually the world will move past capitalism, or fall by its wayside. However, I don't think Capitalism will burn itself out. The system would have to be changed. If not it would grow out of control.

 

I agree with T. I don't think communism is the answer, especially not soviet communism, but regulations are needed.

 

If you label me a socialist so be it. I'll wear the tag. Much better than being a capitalist anyway.

 

The T doesn't believe that the market (meaning all of us, because we are all consumers) can regulate itself and prevent corporations from running our lives.  This of course ignores the fact that the alternative, a regulatory bureaucracy, does not have to meet any of the demands of the market and is utterly inflexable to the changing consumers needs unless there is a massive change at the electoral level (in politicians) followed by an actual change in personel within the bueaucratic agencies themselves.  It's basically about trusting a small group of people, that you never see, entrenched in a government agency over a large group of people, including yourself and every other consumer.  Frankly, I don't know how one could trust the central planning of the few over the market desires of the whole.  It's nieve to think that the few can effectively and impartially decide what is best for the whole and deprecating to think that consumers are not able to control the shape of industry via their market actions.  Perhaps the problem is that a pure free market capitalism is nowhere to be found while corporatism rules the day.  Politicians (mostly on the left) who seek power will always blame capitalism for all our economic ills despite the fact that actual capitalism hasn't existed in this country for generations.  Do not confuse capitalism with corporatism.

OMG! I agree with both of you.

That is very true, One thing I found really amazing about people in the USA, the extent at which they contribute in some form or other to their communities. Even in hard times there was a quiet reinforcement for community support

After that, the gentleman is awarded a prize for having one of the most profitable business in the country. In his speech, after receiving the award he states steadily: "All I got is because we live in a perfect capitalist system: no regulations, only profits!".

 

And the wheel goes turning and turning....

 

 

After that, the gentleman is awarded a prize for having one of the most profitable business in the country. In his speech, after receiving the award he states steadily: "All I got is because we live in a perfect capitalist system: no regulations, only profits!".

 

And the wheel goes turning and turning....

 

So true someone will always get exploited at another's expense

 

 

And I agree with all three of you.  I think that well-regulated capitalism or Social Democracy is the answer.  Then again, I'm only 14 (nearly 15) years old, so I haven't really experienced any kind of system personally.  However, my family has friends that work really hard but still have struggle to support themselves.  Whenever I hear about their problems, it makes me see through the myths of free market Capitalism.

I think the problem is the smear job that's been done to capitalism. People hear words like profit and images of fat cats swimming in blood money instantly fill their minds, rather than just seeing it at a useful, actually the only, means of signaling markets where to divert capital. 

Similarly any problems caused by government regulation are effectively blamed on the lack of regulation. Government props up its de facto monopolies for businesses that are well connected, then when the consumers suffer they instantly blame capitalism.

People really should at least be aware of von Mises and the Austrians in general. Capitalism has no defenders in mainstream media, politics, or academia. Republicans are as much mixed market collectivists as Democrats. 

Yes like the housing bubble that was created by the Fed, a government created central planning bank. 

I'm not a huge Ayn Rand guy, but God it would be nice if "conservatives" actually read Ayn Rand or held her in any high regard.

Interesting to note that Nordic countries do not have minimum wage legislation, such enforcement being unnecessary due to the strong cooperation between workers and employers through effective unions, with minimum wages being set by collective bargaining.The lowest paid in those countries earn twice that of their equivalents in the US and have a "decent" standard of living as a result -  this is offset by the higher earners earning less, where executive management grades in the USA earn 200 times the national average, in Scandinavia that figure is only 20 times - given that the US National Average is $33,00/year, $660,000/year is still a good salary, it's just not $6,600,000. This does not remove the poverty-trap or eliminate poverty, but it does reduce it considerably.