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What do you think about Capitalism?

Since the 2008 ongoing worldwide financial crisis, more people have adopted negative and critical views as regards to financial system of capitalism. "Capitalism is the destruction of capitalism", "capitalism is a flawed system", " capitalism is neo-colonialism", are recurrent subject topics at the center of fierce political debates and disputes.

Nevertheless, can one say that capitalism is inherently flawed? Hasn't capitalism benefited us Westerns and non-Westerners in many perspectives?

I believe it is not the financial system in itself which is a failure, but the establishment of a capitalist identity, which is enhancing ever lasting critiques of the capitalism system.

Hasn't Capitalism led a fairer economic system? Enabled more freedom of the individual? Led many markets across the world to finally compete within the international market? Enhanced standardization of prices and extended more availability of choice and variation?

What needs to be changed, is not they way in which the system works, but the ideals and attributes of leading capitalist merchants. Capitalism has triggered - within a great number of people- a feeling of individualism, vanity and consumerism. However, this is NOT the case of every person who is "capitalist". What needs to be altered is people mindset, and what is truly required is a revival of the study of business ethics. One needs to stress the importance of contributing to society, rather than making profit. We need for people to think of society before profit. Business ethics needs to re-entrench itself in people's minds in order for society to function in a better manner, which will further lead to economic flourishment, and overall prosperity.


Topics: economics

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    May 19 2012: Have you noticed that the millionares who preach against the 1% (Obama) have not given up a red cent, lowered his pay, or even helped his Aunt who is on US welfare, or his Uncle who is a street bum about to be departed. Talk is cheap. This is political window-dressing and a plea for voter support. Capitalism is not the problem. We all have the opportunity to become wealthy. The problem is all the people who think they deserve a piece of the pie that they have not earned or deserve. That promises of "free" this or that is possible. We have become a welfare state with many generations of welfare recipents. What needs re-newing, my opinion, is the work ethic that made us great. All thye best. Bob.
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      May 27 2012: The problem, as always, is people and power, all power corrupts evientualy due to self preservation, personal gain and ego.

      A welfare state were most of the money goes to big business and is spun to not be socialism, but universal healthcare is? And how many "hard working" people make that happen so the rich can have gold yachts? There would be no rich without the toil of the poor worker. Can someone with a learning disability have the same potential to become rich? No, so not everyone "has the opportunity to become wealthy".

      How hard does he work to "earn" 5 billion US$ in a year from selling junk bonds to greedy stupid people?

      It seems that the west drifts from more to less market regulation based on the public perception, we are in a space now like it was 100 years ago with the markets: less regulation-more concentraited wealth, more regulation-less concentraited wealth, with all governments under the thumb of big business. The ease of politicial leadership to become beholdent to the will of big business for personel gain, media for distracting the mob, divide and conquer the masses.

      One answer may be to ban all funding for politicial parties, pay all politicians the minium wage and make them pass a moral exam to enter.

      But to me there is a equal problem with capitalism too, the end of the industrial revoulition, when robots take most of the work in the next 10 to 20 years, there will be no wages, no wages means no consumsion, no consumsion means no more capitialism, what happens then?????? dun dun darrr.

      one answer might be this:


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