It also gave rise to a new industrial aristocracy, which diluted the power of the landed nobles and hereditary nobility. While few peasants managed to rise to those levels, at least some of the class lines were blurred, if not erased entirely. Look at someone like Andrew Carnegie.
America was lucky in that she emerged from British rule just as industrialization was setting in, so she had few of the feudal artifacts to shake off.
Capitalism has been the greatest benifit to mankind in the known history of the world.
I don’t see anything wrong with capitalism. What I have problem with is “CRONY CAPITALISM”, that has permeated our country. All you really need to do is donate enough money to a politician, and if and when he wins the race, you are rewarded with handsome government contracts or the government gives you money outright to start a business. That’s not CAPITALISM. That is what Nazi Germany did in Germany in the 30’s.
"Crony" capitalism is simply another term for corruption - capitalism itself is simply the use of the surplus from one economic operation to fund another. That it has come to involve bankers, swindlers (but there I repeat myself), lobbyists, and members of both bureaucracy and elected government peddling influence is neither an essential feature of capitalism nor a necessary one. It is, after all, precisely the same corruption seen under non-capitalist systems.
Hope to see more of your posts on FR!
One of my forbears was a tenant farmer in Northern Ireland. In 1811, he migrated with his wife and infant son to Philadelphia, soon after moving to eastern Ohio, where he could actually own his own land.
Were it not for the effects of rural depopulation, whether in the British Isles, Italy, Scandinavia, and Central Europe, our country may never have been heavily settled by Europeans.
Bump for tomorrow. I expect to see some very interesting discussion on this!
Any system other than capitalism requires government coercion to exist.
There are bad things,
There is capitalism,
Ergo: capitalism caused the bad things!
Seriously you make only the most specious of a connections.
A RELIGIOUS Case against Capitalism and Industrialism... and a weak one, at that.
Most social conservatives have no problem whatsoever with using the power of government to enforce their personal preferences, just like any Socialist Liberal. I am a limited-government conservative, and have very little in common with them.
“These negative effects include the degrading of traditional morality and the role of the family, the restriction of private property, crony capitalism, the rise of imperialism, and lastly its effects on agrarianism and the environment.”
These are all symptoms of Socialism/Communism not Capitalism.
This development of big business and corporatism, which was highly influenced by capitalism gave rise to what is known as crony-capitalism.
Do I really have to say it? Crony-capitalism is the result of leftist politicians hoping to get a slice of the pie.
If I didn't know better, I'd think I was reading this is DU.
Not only are you a blog pump you are also so under educated in economics it is ridiculous.
Most obvious error in your thinking is that you do not even approach capitalism as a natural outgrowth of liberty and freedom.
I think it is a fair statement that capitalism is a function of economic liberty. If so, capitalism is probably a pillar of conservatism.
I think the main point is just plain crony capitalism.
When Government (like ours) becomes monster sized - and corporations become enmeshed with it. This kills a free market.
I used to defend big corporations, until I worked with a few and realized they were almost purely socialist organizations.
Also, with neocon globalism, they have no loyalty to the United States.