Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Is Capitalism Killing Our Morals and Economy?
Townhall.com ^ | April 28, 2013 | Mike Shedlock

Posted on 04/28/2013 10:12:07 AM PDT by Kaslin

In one of the most hopelessly incorrect collections of drivel that I have ever seen, Paul Farrell of MarketWatch writes Capitalism is killing our morals, our future.

Yes, capitalism is working ... for the Forbes 1,000 Global Billionaires whose ranks swelled from 322 in 2000 to 1,426 recently. Billionaires control the vast majority of the world’s wealth, while the income of American workers stagnated.

Over the years we’ve explored the reasons capitalism blindly continues on its self-destructive path. Recently we found someone who brilliantly explains why free-market capitalism is destined to destroy the world, absent a historic paradigm shift: That is Harvard philosopher Michael Sandel, author of the new best-seller, “What Money Can’t Buy: The Moral Limits of Markets,” and his earlier classic, “Justice: What’s the Right Thing to Do?”

New free-market capitalism trapped in American brains. Yes, it’s everywhere: “Markets to allocate health, education, public safety, national security, criminal justice, environmental protection, recreation, procreation, and other social goods unheard-of 30 years ago. Today, we take them largely for granted.”

Examples ... for-profit schools, hospitals, prisons ... outsourcing war to private contractors ... police forces by private guards “almost twice the number of public police officers” ... drug “companies aggressive marketing of prescription drugs directly to consumers, a practice ... prohibited in most other countries.”

Something Trapped in Our Brains

Yes something is trapped in our brains, or rather the brains of Farrell, Harvard philosopher Michael Sandel, and those who think like them.

The first problem is Farrell and Sandel do not know what free market capitalism is. We certainly do not have it.

The free market would not have fractional reserve lending. The free market would have gold and silver as money.

The primary reason for the major disparity in wealth is bank leverage of fiat money created at will via fractional reserve lending. The most redeeming feature of capitalism is failure, but the Fed has a moral hazard policy of "too big to fail" that promotes massive risk-taking.

There would be no Fed in a free market and there would be bank failures, not bailouts on the backs of taxpayers.

In a free market, money would not be inflated at will, nor would credit be handed out to anyone who could breathe as happened in the housing bubble.

Anyone who equates what is happening now with "free market economics" has something much smellier than mush for brains. So does anyone who thinks the socialist model would serve us better. If it the socialist model was better, and more regulation and rules was the solution for everything, France would be the booming leader of the world economy.In one of the most hopelessly incorrect collections of drivel that I have ever seen, Paul Farrell of MarketWatch writes Capitalism is killing our morals, our future.

Yes, capitalism is working ... for the Forbes 1,000 Global Billionaires whose ranks swelled from 322 in 2000 to 1,426 recently. Billionaires control the vast majority of the world’s wealth, while the income of American workers stagnated.

Over the years we’ve explored the reasons capitalism blindly continues on its self-destructive path. Recently we found someone who brilliantly explains why free-market capitalism is destined to destroy the world, absent a historic paradigm shift: That is Harvard philosopher Michael Sandel, author of the new best-seller, “What Money Can’t Buy: The Moral Limits of Markets,” and his earlier classic, “Justice: What’s the Right Thing to Do?”

New free-market capitalism trapped in American brains. Yes, it’s everywhere: “Markets to allocate health, education, public safety, national security, criminal justice, environmental protection, recreation, procreation, and other social goods unheard-of 30 years ago. Today, we take them largely for granted.”

Examples ... for-profit schools, hospitals, prisons ... outsourcing war to private contractors ... police forces by private guards “almost twice the number of public police officers” ... drug “companies aggressive marketing of prescription drugs directly to consumers, a practice ... prohibited in most other countries.”

Something Trapped in Our Brains

Yes something is trapped in our brains, or rather the brains of Farrell, Harvard philosopher Michael Sandel, and those who think like them.

The first problem is Farrell and Sandel do not know what free market capitalism is. We certainly do not have it.

The free market would not have fractional reserve lending. The free market would have gold and silver as money.

The primary reason for the major disparity in wealth is bank leverage of fiat money created at will via fractional reserve lending. The most redeeming feature of capitalism is failure, but the Fed has a moral hazard policy of "too big to fail" that promotes massive risk-taking.

There would be no Fed in a free market and there would be bank failures, not bailouts on the backs of taxpayers.

In a free market, money would not be inflated at will, nor would credit be handed out to anyone who could breathe as happened in the housing bubble.

Anyone who equates what is happening now with "free market economics" has something much smellier than mush for brains. So does anyone who thinks the socialist model would serve us better. If it the socialist model was better, and more regulation and rules was the solution for everything, France would be the booming leader of the world economy.

Editor's Note: Should someone who is against free markets actually be working for CBS MarketWatch?


TOPICS: Business/Economy; Culture/Society; Editorial
KEYWORDS:
Navigation: use the links below to view more comments.
first 1-5051-75 next last

1 posted on 04/28/2013 10:12:07 AM PDT by Kaslin
[ Post Reply | Private Reply | View Replies]

To: Kaslin
I think inflation has a large roll in the increase in the number of billionaires...
2 posted on 04/28/2013 10:15:12 AM PDT by Cowboy Bob (Democrats: Robbing Peter to buy Paul's vote.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin
I agree that Farrell is an idiot.

The free market would not have fractional reserve lending.

But this is just silly.

Fractional reserve lending has been around since the first bank took the first deposit and made the first loan.

3 posted on 04/28/2013 10:20:36 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

We need American jobs, not Chinese jobs.

Now.


4 posted on 04/28/2013 10:21:39 AM PDT by Cringing Negativism Network
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin
I like free markets pretty well. But that's not what we have.

What we have is fascism --
if the businesses treat the government right, there will be rewards for the business.
if the politicians treat the business right, there will be rewards for the politicians.

The people? Phagh! Screw the people.

5 posted on 04/28/2013 10:27:05 AM PDT by ClearCase_guy (The ballot box is a sham. Nothing will change until after the war.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin
Atheism is what is killing our markets and economy.
6 posted on 04/28/2013 10:29:25 AM PDT by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cowboy Bob

Capitalism has generated, by a huge margin, more wealth for more people worldwide than any other economic system in history. Liberals hate it because there are winners and losers. If you’re smart, work hard, and work smart chances are you will prosper in a true capitalist society. If you aren’t and don’t chances are you will starve.

What troubles me most is public school graduates come out of school thinking capitalism is evil. Look at the Occupy Wall Street crowd, and most of them were college students. Trouble is they don’t understand, were never taught, that every other economic system is far worse. The United States seems determined to try socialism even though socialist countries were responsible for killing over 100 million of their own citizens in the 20th century and created lives of misery and deprivation for 100s of millions more that weren’t outright killed.


7 posted on 04/28/2013 10:29:31 AM PDT by MtBaldy (If Obama is the answer, it must have been a really stupid question)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Kaslin
There never has and never will be "Free Market Capitalism." Every succesful business immediately seeks a monopoly. The business entities management immediately seeks political support whether from king, president or parliment in attempting to achieve their monopoly. The political people grant the Capitalists their monopoly for a price. The price is typically low at first but becomes steeper as time passes.

I love the "Free Trade" fanatics preaching an 18th century abstraction that never was and never will be.

8 posted on 04/28/2013 10:37:20 AM PDT by AEMILIUS PAULUS (It is a shame that when these people give a riot)
[ Post Reply | Private Reply | To 1 | View Replies]

To: AEMILIUS PAULUS
What you say is true. The concept of "free market capitalism" is like a mathematical limit -- you might want to get there, but "close" is all you can really hope for.

That's why Limited Government is the way. If the government is weak and starved for cash, it will lack the ability to influence markets or prop up monopolies. There will always be some interference, but with really small government, you can get close to a "free market".

9 posted on 04/28/2013 10:41:25 AM PDT by ClearCase_guy (The ballot box is a sham. Nothing will change until after the war.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Kaslin
Outlawing new manufacturing competition here and mandating social pathologies (also to keep potential healthier competition down) while conspiring with other nations in mercantilism and military buildups against our nation is not free market. And it's certainly not conservative. It's part of the new fascist socialism, and the default process is a consequence of it.

America’s Ruling Class — And the Perils of Revolution
http://spectator.org/archives/2010/07/16/americas-ruling-class-and-the/print

The Fragmenting of the New Class Elites, or, Downward Mobility
http://volokh.com/2011/10/31/the-fragmenting-of-the-new-class-elites-or-downward-mobility/

Environmentalism and the Leisure Class
http://www.freerepublic.com/focus/f-news/2835601/posts

The New Upper Class and the Real Reason We Dislike Them
http://www.freerepublic.com/focus/news/2843575/posts

Are you a member of the political class?
http://www.americanthinker.com/blog/2010/08/are_you_a_member_of_the_politi.html


10 posted on 04/28/2013 11:00:16 AM PDT by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

The author in question doesn’t seem to know what a free-market is. Contracting with the government is NOT a free market.


11 posted on 04/28/2013 11:06:30 AM PDT by GeronL (http://asspos.blogspot.com)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

Real conservatives would stop all spending on regulatory offices (especially local), violations of private property rights, intrusions against families, public schools, etc. Only fake conservatives become afraid of their constituent majorities (while kowtowing to the few favored, socialist, globalist constituents), get hysterical and “prep” their offices with fake, slob versions of military appearances to rob real conservatives.


12 posted on 04/28/2013 11:07:04 AM PDT by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

I turned on BBC News once last week and they were saying that Capitalism caused the sovereign debt crisis. lol


13 posted on 04/28/2013 11:08:04 AM PDT by GeronL (http://asspos.blogspot.com)
[ Post Reply | Private Reply | To 1 | View Replies]

To: AEMILIUS PAULUS
Every succesful business immediately seeks a monopoly. The business entities management immediately seeks political support whether from king, president or parliment in attempting to achieve their monopoly.

Your statement is simply BS. Either you have never ran a successful business or simply one of those anti-capitalist Occupy Wall Street baffoons. I suggest you get out and talk to some successful business owners.

14 posted on 04/28/2013 11:14:10 AM PDT by A_Tradition_Continues (formerly known as Politicalwit ...05/28/98 Class of '98)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Kaslin
We don't have capitalism.

We have a big-government/big-corporate criminal complex.

15 posted on 04/28/2013 11:19:23 AM PDT by E. Pluribus Unum ("Deficit spending is simply a scheme for the confiscation of wealth." --Alan Greenspan)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

I’m in the midst of re-reading Atlas Shrugged, when along comes this article.....


16 posted on 04/28/2013 11:27:29 AM PDT by cincinnati65
[ Post Reply | Private Reply | To 1 | View Replies]

To: ClearCase_guy

That’s exactly how I see it.


17 posted on 04/28/2013 11:38:54 AM PDT by cuban leaf (Were doomed! Details at eleven.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: E. Pluribus Unum

It’s “capitalism” so long as any non-politician isn’t starving. That’s how these idiots think.


18 posted on 04/28/2013 11:44:35 AM PDT by Wanderer99
[ Post Reply | Private Reply | To 15 | View Replies]

To: American in Israel

Ayn Rand was an atheist, yet she was one of the most vocal opponents of the kind of government we have today.


19 posted on 04/28/2013 11:47:54 AM PDT by RWB Patriot ("My ability is a value that must be purchased and I don't recognize anyone's need as a claim on me.")
[ Post Reply | Private Reply | To 6 | View Replies]

To: ClearCase_guy; AEMILIUS PAULUS; Kaslin

Agreed. Free market capitalism is something that will never be achieved. It’s pretty clear from centuries of history that as soon as one guy figures out how to get a bit ahead, everybody else starts to feel entitled to figure out how to get themselves a bit of what that guy has. Some people cheat or con, some are actually willing to work for it, others go into government and take it at the point of a gun, in the name of “the people”.


20 posted on 04/28/2013 11:50:43 AM PDT by Hardastarboard (Buck Off, Bronco Bama)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Kaslin

Nope. Crony capitalism (corporatism, fascism) might be doing so.

But it is dead certain that entitlements are killing morals and personal responsibility.


21 posted on 04/28/2013 11:52:03 AM PDT by Little Ray (How did I end up in this hand-basket, and why is it getting so hot?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin
The free market would not have fractional reserve lending. The free market would have gold and silver as money.

There is an awful lot of debate and disagreement about that even among strong supporters or capitalism or free markets.

“Markets to allocate health, education, public safety, national security, criminal justice, environmental protection, recreation, procreation, and other social goods unheard-of 30 years ago. Today, we take them largely for granted.”

That's not really coherent writing. But all of that was "heard-of" 30 years ago. Theories about, say, the right to pollute were out there. Even today, though, that's not a reality, so far as I know.

Surely "procreation" and "recreation" haven't been state-run in recent memory -- or ever. Private guards? Ads in buses? Private schools and hospitals? None of that is really new. I'm not sure that the line between private non-profit and private for-profit institutions is as clear as the article suggests.

Farrell -- or rather, Sandel -- is having a rant. They're globalizing. Whatever truths or valid points they have about specific developments get lost in all the ranting.

22 posted on 04/28/2013 12:01:52 PM PDT by x
[ Post Reply | Private Reply | To 1 | View Replies]

To: A_Tradition_Continues

Wow! I did not know you posted here and to think you are a tycoon. How do you have time.


23 posted on 04/28/2013 12:07:22 PM PDT by AEMILIUS PAULUS (It is a shame that when these people give a riot)
[ Post Reply | Private Reply | To 14 | View Replies]

To: A_Tradition_Continues

Wow! I did not know you posted here and to think you are a tycoon. How do you have time.


24 posted on 04/28/2013 12:07:23 PM PDT by AEMILIUS PAULUS (It is a shame that when these people give a riot)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Kaslin
Billionaires control the vast majority of the world’s wealth

Well, no. Total assets of the world's billionaires is around $5.4T, while the total wealth of the world is around $1 quadrillion.

They control about 0.54% of the world's wealth, which wasn't a majority the last time I looked.

You can argue they control too much, but not that they control most of it.

25 posted on 04/28/2013 12:51:40 PM PDT by Sherman Logan
[ Post Reply | Private Reply | To 1 | View Replies]

To: A_Tradition_Continues

Take it up with Adam Smith. He knew 200+ years ago that given the opportunity businessmen conspire with each other and the government to defraud the public.

Competing in a free market is HARD. It’s a lot easier to have the government break a trail for you.


26 posted on 04/28/2013 12:55:27 PM PDT by Sherman Logan
[ Post Reply | Private Reply | To 14 | View Replies]

To: Kaslin

I think it’s livng in debt and want for more that is killing our morality. At least when you have capital you own it and aren’t just leasing it from the bank or mortgage company for your whole life.


27 posted on 04/28/2013 1:15:20 PM PDT by This I Wonder32460
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin
capitalism blindly continues on its self-destructive path

Prosperity requires economic progress, and economic progress requires all of the following factors:
1) private property rights
2) rational culture that accepts scientific progress
3) technological progress and the means of implementing it
4) capital accumulation and capital markets
5) low taxes
6) sound money and sound financial system

To achieve the above, there are two alternatives to choose from: either capitalism or government interventionism. Government interventionism is destructive to all of the above, which leaves capitalism as the best choice for achieving prosperity.

28 posted on 04/28/2013 1:33:33 PM PDT by mjp ((pro-{God, reality, reason, egoism, individualism, natural rights, limited government, capitalism}))
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin
Adam Smith and the Origin of Capitalism

At the center of this blueprint are the solutions to two problems that absorb Smith's attention. First, he is interested in laying bare the mechanism by which society hangs together. How is it possible for a community in which everyone is busily following his self-interest not to fly apart from sheer centrifugal force? What is it that guides each individual's private business so that it conforms to the needs of the group? With no central planning authority and no steadying influence of age-old tradition, how does society manage to get those tasks done which are necessary for survival?

29 posted on 04/28/2013 1:39:31 PM PDT by Popman (Godlessness is always the first step to the concentration camp.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

Paul Farrell of MarketWatch no doubt thinks democracy IS NOT MOB RULE..

one wonders WHAT ELSE he does not know..
Capitalism MURDERS poverty, Socialism INCREASES poverty..


30 posted on 04/28/2013 1:46:45 PM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

Capitalism made America prosperous and secure foe 200 years. It’s capitalism’s demise that’s wrecking America.


31 posted on 04/28/2013 1:51:51 PM PDT by Spok
[ Post Reply | Private Reply | To 1 | View Replies]

To: Toddsterpatriot
It's true that fractional reserve banking is not to blame for the current economic disparity. The main problem is various central bank and government policies to misprice risk.

They promote a carry trade into some craphole like Greece by loaning dollars or yen at some low rate to people who buy Greek debt yielding 11 percent because it might be paid back in Euros if it is paid back. Big banks and wealthy investors who can play this game can make big profits because the risks from the inevitable delieveraging falls mainly on the slower smaller investors and the economy (meaning jobs and upward mobility are undermined by the boom and busts).

The second problem is that the Fed prints money to give to politicians (in exchange for treasuries which are in a Fed-created bubble). The politicians give a lot of the money to the already wealthy in exchange for campaign contributions.

32 posted on 04/28/2013 2:16:47 PM PDT by palmer (Obama = Carter + affirmative action)
[ Post Reply | Private Reply | To 3 | View Replies]

To: AEMILIUS PAULUS
I love the "Free Trade" fanatics preaching an 18th century abstraction that never was and never will be.

As opposed, I assume, to the protectionists who whine about government control -- except for trade where it's perfectly justified. The protectionists preach a 19th century abstraction where the division of labor is good for the individual, smart for a city, and correct for a state or province.

But, miraculously, and without explanation, the benefits of the division of labor stop at the nation's borders. Now, that's a theory. And one that's been disproved many, many times.

33 posted on 04/28/2013 2:43:40 PM PDT by BfloGuy (Don't try to explain yourself to liberals; you're not the jackass-whisperer.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: BfloGuy
But, miraculously, and without explanation, the benefits of the division of labor stop at the nation's borders.

Yes, it stops at the borders. Borders have meaning. We didn't vote for "free trade" or in reality it isn't; only free in one direction.

34 posted on 04/28/2013 2:46:36 PM PDT by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 33 | View Replies]

To: BfloGuy

Except fot the American system. Worked quite well.


35 posted on 04/28/2013 3:13:55 PM PDT by AEMILIUS PAULUS (It is a shame that when these people give a riot)
[ Post Reply | Private Reply | To 33 | View Replies]

To: BfloGuy

Oh and by the way it has little to do with specialization but a great deal to do with coolee labor working at ten cents per day producung products that are cheap and nasty thus destroying the West. The true “Free Trade” fanatic can only think economically and refuses to see that politically China will soon be in a position to dominate the U.S. with the help of Western abstract economic theorists.


36 posted on 04/28/2013 3:23:38 PM PDT by AEMILIUS PAULUS (It is a shame that when these people give a riot)
[ Post Reply | Private Reply | To 33 | View Replies]

To: AEMILIUS PAULUS

Most of these economic libertarians are also just plain old libertarians. I mean a child can see “free trade” with a communist Country (like China) cannot be free. The peoples of the two countries are no where near on a level playing field and one set lives in abject slavery.


37 posted on 04/28/2013 3:33:16 PM PDT by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 36 | View Replies]

To: Kaslin

Socialism teaches that it’s OK to steal, as long as it’s for a good cause. Socialism teaches that it’s OK to collect a paycheck for doing nothing. Socialism teaches that it’s OK to take away people’s rights, as long as it’s for the greater good (ie, for the advancement of socialism).

If anything is corrupting this country, it’s socialism.


38 posted on 04/28/2013 3:39:25 PM PDT by Rocky (Obama is pure evil.)
[ Post Reply | Private Reply | To 1 | View Replies]

The disease of liberalism festers in virtually every corner of the Country.


39 posted on 04/28/2013 3:42:56 PM PDT by Gene Eric (The Palin Doctrine.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: central_va
only free in one direction

As Joan Robinson said, making the case for unilateral free trade, "Even if your trading partner dumps rocks into his harbor to obstruct arriving cargo ships, you do not make yourself better off by dumping rocks into your own harbor."

40 posted on 04/28/2013 4:07:13 PM PDT by cynwoody
[ Post Reply | Private Reply | To 34 | View Replies]

To: All


Help FR Continue the Conservative Fight!
Your Monthly and Quarterly Donations
Help Keep FR In the Battle!

Sponsoring FReepers are contributing
$10 Each time a New Monthly Donor signs up!
Get more bang for your FR buck!
Click Here To Sign Up Now!


41 posted on 04/28/2013 4:09:40 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
[ Post Reply | Private Reply | To 40 | View Replies]

To: GeronL; Kaslin

Free trade is a human right.

Crony capitalism is tyranny
(intervention into an individual’s free affairs).


42 posted on 04/28/2013 5:28:03 PM PDT by 4Liberty (Some on our "Roads & Bridges" head to the beach. Others head to their offices, farms, libraries....)
[ Post Reply | Private Reply | To 11 | View Replies]

To: Sherman Logan

Re: “The total wealth of the world is around $1 quadrillion.”

Divided by 7 billion people.....

That’s $140,000 in assets per person, excluding billionaires.

Can I cash out my share?


43 posted on 04/28/2013 5:43:40 PM PDT by zeestephen
[ Post Reply | Private Reply | To 25 | View Replies]

To: Kaslin

Our markets and businesses are HEAVILY interfered with by government. We barely have a market much less calling it a “Free market”.


44 posted on 04/28/2013 5:45:30 PM PDT by CodeToad (Liberals are bloodsucking ticks. We need to light the matchstick to burn them off.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Sherman Logan
"...the total wealth of the world is around $1 quadrillion."

Please fill us in as to whether you just made that up or you actually have some source to back it up.  Reason I ask is that other sources (Univ Calif. Santa Cruz, Wikipedia, United Nations) seem to hover around a tenth that number.

45 posted on 04/28/2013 6:45:02 PM PDT by expat_panama
[ Post Reply | Private Reply | To 25 | View Replies]

To: cynwoody
"Even if your trading partner dumps rocks into his harbor to obstruct arriving cargo ships, you do not make yourself better off by dumping rocks into your own harbor."

My understanding is that the reasoning is more precisely that it's not fair for foreign governments to make their people pay high import taxes, and that we should get to pay high import taxes to our federal gov't too. 

 

OK, so I know it's crazy, but it's what I'm getting from the protectionist crowd.

46 posted on 04/28/2013 6:53:18 PM PDT by expat_panama
[ Post Reply | Private Reply | To 40 | View Replies]

To: Kaslin
Is Capitalism Killing Our Morals and Economy?

No...

Our Morals are Killing Our Capitalism and Economy.

47 posted on 04/29/2013 4:47:43 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin
The Left has been blaming Capitalism for any and all economic problems since the 1930's. See the lower left corner of this cartoon.


48 posted on 04/29/2013 4:53:06 AM PDT by Teacher317 (Sometimes I've believed as many as six impossible things before breakfast)
[ Post Reply | Private Reply | To 1 | View Replies]

To: expat_panama
If all the water, in all the world - lakes, seas, ponds and swimming pools - were connected together with pipes and siphons; then, over time; the level would equalize.

The same will happen with the money (value?) supply.

Unless someone shuts a valve to 'protect' their high level water source to keep it from flowing out, then it will drain away.

Likewise, if someone shuts the value on a low supply, then none will flow in.

However; if the valve controlling people decide to put pumps in place of valves (tariffs to resist outflow or artificially set low prices to suck inflow) then all bets are off.

49 posted on 04/29/2013 4:55:09 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
[ Post Reply | Private Reply | To 46 | View Replies]

To: Elsie
...tariffs to resist outflow or artificially set low prices to suck inflow...

A lot of people have this image of world trade where one nation can get lots of money while others lose it, but it don't work that way.  In real life we may imagine that we're buying our coffee and chocolate from foreigners with dollars, but what they do is use those dollars to buy stuff from us. 

They don't keep dollars because they use their own foreign money.  Payments always balance.

50 posted on 04/29/2013 5:36:35 AM PDT by expat_panama
[ Post Reply | Private Reply | To 49 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-75 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson