Skip to comments.Why the world needs capitalism
Posted on 09/25/2017 7:14:56 PM PDT by SJackson
Our friend, O.E. MacDougal, came to visit us at Backwoods Home Magazine and to fish the rivers and the coast of southwestern Oregon. It was going to be a long, relaxing Fourth of July weekend for him. Mac, as we call him, is Dave Duffys poker-playing friend from Southern California, and Dave, of course, is the publisher of this magazine.
Whether or not communism, socialism, and fascism have any success depends on how they deal with capitalism.
I was at my desk thinking about some things while half listening to them as they sat at the editorial table in the middle of the room and talked about fishing " rods, reels, bait, places to go, and stuff like that.
Then Mac said, Youve got that faraway look in your eye, John.
I didnt intend to trigger a political conversation, but I did have something on my mind and I said, After last Novembers presidential election, Ive been wondering if the United States is becoming a fascist country.
He looked at me kind of funny for a few seconds, then said, Weve had conversations along this line before, havent we?
Dave nodded and I vaguely recalled talking about fascism in the past.
Mac said, In many ways, weve had the economic trappings of socialism, fascism in particular, in place since at least 1933. Do you recall what fascism is? he asked.
(Excerpt) Read more at backwoodshome.com ...
What we need is Free Enterprise.
We have had Monopoly Capitalism tied to government since the 1930s.
Gigantic International Corporations dominate the economic landscape to our detriment. This what many here call “Globalism” and they will sell and have sold out the US without blinking.
Yes, though free enterprise can lead to concentration of power too, that being the real problem. Of course unlike socialism, fascism, communism et al, capitalism, as a more efficient economic system, doesn't depend on centralized power to function. Only to be kept within whatever restraints the governed deem necessary.
Very good article. A straightforward way to explain the different types of economies. It should be passed out to junior high & high schools!
In point of fact there has never been capitalism that is not controlled by the state to some degree.
It is supposed to work under the laws of Pure Competition. Unfortunately, almost all the assumptions which underlay the theory has been violated - particularly that no one has any impact on the market.
You are correct that it can and does lead to the concentration of wealth if there is no intervention. Example, small groups control the vast majority of wealth in all countries and the vast majority of the population has next to nothing.
This wealth is generally inherited.
Without a large and prosperous middle class to mediate the distribution of wealth and income this dichotomy can only lead to big trouble in a democracy.
This middle class is losing its prosperity and shrinking. The only real question is when will this come to a head.
Capitalism is a marxist term designed to demonize the free enterprise, free market economic system which evolves from a constitutional republic. democracy (read that, mob rule) promotes crony capitalism. social welfare, statism, and eventually socialism. Marx outlined these stages in Das Capital. For enterprise to be free, you must preserve markets where free association is permitted and fostered. Individual rights and freedom occur only in a Republic. We have lost that battle long ago. to reinstitute would require a revolution
Most of the editorials in BHM are/were good. Unfortunately, the paper magazine is shutting down, though a web version will continue. I’ve been a subscriber for MANY years.
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