Purely passive income is not really capitalism, as the article suggests. “Investors” who only live to loan money or buy sucurities or futures contribute NOTHING to add value or productivity.
The govt prints money out of thin air, GIVES it to banks etc., and expects the lowly serfs and peons to WORK their asses off for it. Sounds like slavery more than anything else.
Non-value added tax should apply to purely passive, speculative income, IMHO.
What a question, we haven seen a true Free market, capitalist system since the late 1800, early 1900! Our system has been hijacked by the politicos and has been morphed into a socialistic fascist hybrid. If only we have a True Capitalistic system there would be no limit to the heights human exists could reach.
Not for long.
Being strangled by the black muslim commie in the white hut. Next question.
Who is John Galt?
Capitalism is a term applied by it’s enemies. It really never is born, nor does it die. It’s what humans do, to the extent that the sovereigns permit it.
IOW's let Obama, or any other occupant in the White House, run the economy as he sees fit? No thanks!
One major factor that is killing capitalism is “crony capitalism”. The government is in bed with big corporations and the banks. With this cabal picking winners and losers, it is amazing that any entrepreneurs can still take their new idea and succeed.
Foolishly, we thought that capitalism was ours. We thought we owned it, controlled it and could use it as our slave in perpetuity. We're now discovering that the reverse is actually true. Now it has little use for our cities, our communities and our people, all that remains is rust and ruins.
Obama is holding a pillow on its face.
Capitalism will be just fine when people start loving freedom more than the chains of oppression. Our government has promised far more than it can ever provide and the remaining producers are fleeing the oppression. When the system collapses so will the power of the socialists. We will know recovery is on the way when being a Public School Teacher defines a criminal offense. Capitalists will survive and will again pledge together their lives and fortunes to build a free nation. We may not live to see it, but it is in the very nature of man.
Capitalism is simply reality. It doesn’t live or die. Its the real world and its human nature.
A people either let it flow naturally, or a people try to divert it, block, or change it for whatever reasons, with all kinds of unintended consequences.
You either live in accord with the real world, or you don’t - and you suffer the consequences.
We've done pretty good since 1914. Entrepreneurship has taken off. Capital markets have developed. Buying and selling of business has reached new levels.
I don't see capitalism as dead at all. I see some government corruption and overreaching.
You cannot kill capitalism... it exists everywhere... even in the most communist forms of government.
Just like you cannot remove from a person his/her desire for freedom, you cannot remove from a person the desire to accumulate wealth and trade that wealth for goods and services.
To say that capitalism is dead or non-existent is like saying freedom is dead or non-existent. And yet, even in places like China or Cuba, you will always find it. It may take different forms, and it may be that only the highest social classes will have the most freedom to exercise it openly, but it will still be there. Even for the poor and the oppressed, capitalism is impossible to eliminate. We call it the black market.
It is not that capitalism is dead... or dying.
It is that tyranny is rampant.
.the other, you get to do the job assigned to you by a govt which will naturally favor its party members...thus, no one will really "work" or "achieve"...
today we have crony capitalism, where it's sort of a combination of the two.....you achieve wealth by favoritism and cooking the books and cheating.....
The idea that governments can invest wisely in technology, at reasonable costs, and the free market cannot is downright absurd as the US, Japan, China, and Europe have proven in spades.
However Obama&CO. think they can make it work,so far so bad.
It alll melt down to socialism.
Bizarre non-sequitur. "I'm dead; Victoria is still Queen" makes about as much sense.
Capitalism is the natural force of economics. The greatest incentive is to acquire tools and leverage opportunities to create wealth in a manner maximizing payoff balanced by the customer's desire to pay minimum cost. (Socialism etc. attempts to divert some of that profit at gunpoint. This too is a natural, albeit immoral a la "theft", force of economics.)
Credit is the new currency. Remember "bad money drives out good"? as in gold coin is driven out by exchangeable certificates which are driven out by identical-looking fiat certificates which are driven out by debit which is driven out by credit. Given the cornerstone of our currency being fiat-issued presidential portraits on paper, and with the rise of instant digital ledger cross-checking, the gov't is dispensing with the paper and just declaring virtual currency into existence. This virtual currency can only exist insofar as it can be traced daily all the way back to the Federal Reserve, which can only be done in the form of debt. Physical currency holds its own value as it is difficult to counterfeit; if you're holding a dollar bill, you have a dollar. Virtual currency has no inherit value, and cannot exist in the form of independent possession; as such, it can only exist by verifiable debt: you don't have a dollar per se, you have the credit of a dollar owed to someone else who [repeat chain] owes the Fed.
The two issues are independent. Capitalism does not ride on the form of currency, it just adapts [to] it. Capitalism continues unabated (witness the incredible success of Kickstarter.com); they're just operating on IOUs instead of little green pieces of paper.
I’m glad I read the article to the very end. I would think that the author would agree with me that capitalism is actually the default economic system, with variations being pressure from elites or powerful groups to control supply and demand. Whew.
I just love the way abortion is a choice, but I can’t buy a toilet that uses 4 gallons of water to flush.
Capitalism is not dead.......yet. It is being strangled by communist/socialist zombies intent on the destruction of this nation and if we don’t stop them hard and soon it will be dead.