"Any sensible person today would join an anti-capitalist organization." [short video]
- Thread starter ColdBlooded
- Start date
It's not that regulators were asleep at the switch, they just have no autonomy to enforce the rules.
The thriving housing market is what helped pull the U.S. out of the depression, which is why it is touted so heavily.
Although it is interesting to connect the link between diminishing wages and how credit has been used as a tool to maintain/increase the ability to purchase goods
Insiders knew what was going to happen, which is why the FBI wrote greenspan letters 3 different times from 99 to 04 expressing concern about run away mortgage fraud that would lead to a collapse greater than the S&L crises in the 80's
He says the root of the problem is that it is the 'excessive power of capital' however, regardless of if the system is capitalistic, socialist, communist, facicst,ect. we come back to the same issue 'Absolute power corrupts absolutely'
Capitalism is a great economic system, but not a political system (as I've stated here many times before).
It would be nice if he were to delve further into the barriers of capital, but to fight capitalism in general or join an anti-capitalist group I don't think is the answer.
Regulation and enforcement, commingled w/ real checks and balances within a capitalistic society (that extracts communist/socialist elements to protect to laypersons of the world) will create the closest ideal of a utopian society that we hope for.
The thriving housing market is what helped pull the U.S. out of the depression, which is why it is touted so heavily.
Although it is interesting to connect the link between diminishing wages and how credit has been used as a tool to maintain/increase the ability to purchase goods
Insiders knew what was going to happen, which is why the FBI wrote greenspan letters 3 different times from 99 to 04 expressing concern about run away mortgage fraud that would lead to a collapse greater than the S&L crises in the 80's
He says the root of the problem is that it is the 'excessive power of capital' however, regardless of if the system is capitalistic, socialist, communist, facicst,ect. we come back to the same issue 'Absolute power corrupts absolutely'
Capitalism is a great economic system, but not a political system (as I've stated here many times before).
It would be nice if he were to delve further into the barriers of capital, but to fight capitalism in general or join an anti-capitalist group I don't think is the answer.
Regulation and enforcement, commingled w/ real checks and balances within a capitalistic society (that extracts communist/socialist elements to protect to laypersons of the world) will create the closest ideal of a utopian society that we hope for.
Time for me to go re-read 'The Republic'
http://en.wikipedia.org/wiki/The_Republic_(Plato)
The dialectical forms of government
Plato spends much of the Republic narrating conversations about the Ideal State. But what about other forms of government? The discussion turns to four forms of government that cannot sustain themselves: timocracy, oligarchy (also called plutocracy), democracy and tyranny (also called despotism).
Timocracy
Socrates defines a timocracy as a government ruled by people who love honor and are selected according to the degree of honor they hold in society. Honor is often equated with wealth and possession so this kind of gilded government leads to the people valuing materialism above all things.
Oligarchy
These temptations create a confusion between economic status and honor which is responsible for the emergence of oligarchy. In Book VIII, Socrates suggests that wealth will not help a pilot to navigate his ship. This injustice divides the rich and the poor, thus creating an environment for criminals and beggars to emerge. The rich are constantly plotting against the poor and vice versa.
Democracy
As this socioeconomic divide grows, so do tensions between social classes. From the conflicts arising out of such tensions, democracy replaces the oligarchy preceding it. The poor overthrow the inexperienced oligarchs and soon grant liberties and freedoms to citizens. A visually appealing demagogue is soon lifted up to protect the interests of the lower class. However, with too much freedom, the people become drunk, and tyranny takes over.
Tyranny
The excessive freedoms granted to the citizens of a democracy ultimately leads to a tyranny, the furthest regressed type of government. These freedoms divide the people into three socioeconomic classes: the dominating class, the capitalists and the commoners. Tensions between the dominating class and the capitalists causes the commoners to seek out protection of their democratic liberties. They invest all their power in their democratic demagogue, who, in turn, becomes corrupted by the power and becomes a tyrant with a small entourage of his supporters for protection and absolute control of his people.
http://en.wikipedia.org/wiki/The_Republic_(Plato)
The dialectical forms of government
Plato spends much of the Republic narrating conversations about the Ideal State. But what about other forms of government? The discussion turns to four forms of government that cannot sustain themselves: timocracy, oligarchy (also called plutocracy), democracy and tyranny (also called despotism).
Timocracy
Socrates defines a timocracy as a government ruled by people who love honor and are selected according to the degree of honor they hold in society. Honor is often equated with wealth and possession so this kind of gilded government leads to the people valuing materialism above all things.
Oligarchy
These temptations create a confusion between economic status and honor which is responsible for the emergence of oligarchy. In Book VIII, Socrates suggests that wealth will not help a pilot to navigate his ship. This injustice divides the rich and the poor, thus creating an environment for criminals and beggars to emerge. The rich are constantly plotting against the poor and vice versa.
Democracy
As this socioeconomic divide grows, so do tensions between social classes. From the conflicts arising out of such tensions, democracy replaces the oligarchy preceding it. The poor overthrow the inexperienced oligarchs and soon grant liberties and freedoms to citizens. A visually appealing demagogue is soon lifted up to protect the interests of the lower class. However, with too much freedom, the people become drunk, and tyranny takes over.
Tyranny
The excessive freedoms granted to the citizens of a democracy ultimately leads to a tyranny, the furthest regressed type of government. These freedoms divide the people into three socioeconomic classes: the dominating class, the capitalists and the commoners. Tensions between the dominating class and the capitalists causes the commoners to seek out protection of their democratic liberties. They invest all their power in their democratic demagogue, who, in turn, becomes corrupted by the power and becomes a tyrant with a small entourage of his supporters for protection and absolute control of his people.
I agree there does need to be more and careful regulation, with proper authority
Totally. A capitalist society does need to put the breaks so to speaks on the big winners so that the wealth is spread among those who not only deserve it but also to those whom cannot achieve excess. Thus removing the extream outliers on either side of the economy. afterall when someone amasses large amounts of money. Then another few are in one way or another missing said monies creating more inequality.
Totally. A capitalist society does need to put the breaks so to speaks on the big winners so that the wealth is spread among those who not only deserve it but also to those whom cannot achieve excess. Thus removing the extream outliers on either side of the economy. afterall when someone amasses large amounts of money. Then another few are in one way or another missing said monies creating more inequality.
