Steve Forster

Melbourne, Australia

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Steve Forster
Posted over 2 years ago
Is capitalism sustainable?
Quite right Larry. I like the fire analogy too. > It is the job of the social system to establish rules and laws that control the economic system. ... > We need, desperately, to get control of the fire. It must be made to work for us - not us for it. This is a very interesting point but not as easy to accomplish as one might think. Here in Australia we had the government recently try and introduce a mining royalties tax on "massive profits". This was in light of the fact that around 85% of mining profits were going offshore and that the mining companies had hugely whittled down what they pay in tax over the last 15 years. Well, as you can imagine the mining companies came out swinging. The ads on TV were almost laughable. Depicting the average Joe saying jobs would be decimated with this tax. It was such a load of rubbish as any thinking person knew there would always be a demand for the resources but of course it had its desired result for the mining companies. A Prime Minister got knifed by his own team even though his popularity was super high in the electorate and the new PM effectively let the mining companies write the rules. The tail wagging the dog as you say. And in the end the government got no boost in revenue as the mining companies sidestepped the little they had to pay. And this is what I hate about the current use of capitalism by the mega rich. To top it off the opposition government came out saying they'd abolish the mining profits tax and the carbon tax. A move in my opinion designed to virtually decimate our society in light of the pollution caused by burning coal. As I mentioned, the corporations rule the roost and won't relinquish that power anytime soon. The evidence is all around us. Bankers still ripping off the system while the anti Wall St movement has run out of puff. The next Bilderberg Group meeting would be where to aim any opposition to how capitalism is being abused. If you can find it...http://g0.to/bilderberg
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Steve Forster
Posted over 2 years ago
Is capitalism sustainable?
Hear, hear Larry, fine points. Unfortunately I don't think generational inheritance of wealth instead of direct line inheritance will ever occur. Oligarchs will sell their businesses to their kids for a dollar. Capitalism in its current form is inherently biased, discriminatory and unfair. A seemingly fickle case in point is not every musician can be a pop star. Many unknown musicians are more talented than many pop stars so it's not talent that dictates who rises to the top but often less savory aspects such as which talent can be manipulated by managers and record companies. On a societal level when I was a kid my 6th grade teacher hypothesized that technology would enable us to work a 4 day week because it would drive down the cost of living and automate many jobs. 35 years later and I don't see any sign of society doing a 4 day week and while technology has driven down the cost of doing business for many companies they haven't reciprocated by paying people the same to work a day less. Another case in point being that capitalism is elitist. If you come into this world with a low IQ or a mental/physical deficiency, or you acquire one along the way then pure capitalism will throw you to the wolves. In it's purist form it doesn't have a social conscience. So I don't think it is sustainable in its current form. And unless the richest 10% contribute a lot more to the social fabric of society then as history has shown us revolutions often follow. Only today kings have been replaced by corporations. Many as unethical as their royal predecessors. I personally like the idea of capitalism. You get out what you put in. Theoretically. Only it doesn't always work out that way and you often get less than you put in due to an advantage your competition has over you. When that advantage is fair then fair enough, but fair advantage is often a euphemism that someone hasn't done their job properly and achieved an unfair advantage. Which is what the top 10% have now.