AmberV wrote:Steve, unfortunately capitalism is not ruled by its ideals or operating definitions, but by its survivable traits in actual scenarios. Even coming from a socialist such as myself, I can look at the ideal of capitalism and see some interesting merits and theories which should suggest its effectiveness (at least in part). Unfortunately these never really tend to pan out, either on the micro and macro scale---and that is really all I can base any sort of critique on: The actual survivable traits---the end result of which can we see blossoming all around us (including those golden INSERT_JARGON). This isn't the first time capitalist principles have caused this, nor will it be the last.
Any system is in part its ideals, and in part the grist of its machine-works. It is that that I coin as capitalism, not some lofty Randism or vague notion of libertarian idealism which, as far as I know, have (just like true socialism) never really been put to the test.
I agree with you in general. I think the biggest problem with the system we have now in the U.S. (call it capitalism or whatever) -- what has led to our current crises -- is the laissez-faire approach adopted by our governments since the Reagan era. Of course, this is the result of greed (of endless lobbying and money thrown at legislators). I think we all agree there is nothing wrong with gaining reward from your work and talent. But there is a tipping point where the amount of money and power you have gives you incrdible leverage to tilt the rules in your favor to allow you to gain even more wealth and power -- more than your work and talents actually deserve. What government needs to do is NOT allow that tilting to occur. While I have hope that the Obama administration wants to do this -- wants to correct for past abuses -- I'm not optimistic for success. Even with the best of intentions, Obama still has to deal with the corrupt and spineless Democrats in Congress, and the even more corrupt Republicans.
On behalf of socialists, however, I'm proud to say that Vermont has the only socialist U.S. Senator in Bernie Sanders.