[Taliesan]

A few elites and many poor are what you find in every unstable third world country

None of them got that way by "capitalism".

These economies reflect the lack of legal protection for private property, which means there is no incentive to build wealth, since it can be taken from you without due process. It is a LACK of legal protection FOR CAPITALISTS which creates the polarization of wealth and poverty. In a society where property is sacred, there is no need to redistribute the wealth, since wealth is naturally attracted to the highest rate of return, which means invested in new business.

Sheeeesh. Is this a conservative board, or a Marxist one?

[FITZ]

There is Capitalism in third world countries --- such as Mexico ---- but very few participate in it ---- what those countries lack is a middle class.

[FITZ]

These economies reflect the lack of legal protection for private property

In some areas there are record rates of foreclosures --- there is not a lot of legal protection for private property when people have no jobs. You can even lose your private property when job loss prevents you from paying property taxes --- the government will just take it away from you.

[jimt]

These economies reflect the lack of legal protection for private property...

While that's true, they also feature laws designed to favor the elite, insuring their control over natural resources, insuring they have no competitors, etc. Marxism or mercantilism, it makes no difference to them, as long as they're in control.

These countries do need better enforcement of private property rights, but they also need repeal of bunches of laws, and shriveling government back to what it should be doing, protecting individual rights.