Horse -
Failed? Really? And we've had pure, laissez-faire capitalism all this time?
That growth postulate is nowhere required by economic liberty, and resources
are not "denied" to the rest of the world. The central factor is bad
government. Africa suffers from oppression by African socialism principally
(which was quite compatible with dictators) - and it has enormous resources.
Market-based economies produce resources; government-dominated ones can't
and don't. (Look at the USSR having to use tubes in their fighter aircraft
into the 1980s.)
Deregulation never happened. Ever. As long as government controls paper
money, alone, you cannot claim that things are not regulated. The market is
far more regulated than it can bear, and other things besides (to pick a
random example, the destructive effects of things like Fannie and Freddie,
which in fact priced lower-income people out of housing *over time* and led
to an inflationary mentality in real estate).
We've had a mixed economy for many decades, and these are the consequences
falling due. The $60-120trillion unfunded liability bomb in the ill-designed
welfare schemes known as Social Security and Medicare are going to make the
crash of '08-present look like child's play unless we go forward to liberty.
Talk about unsustainable.
And when those crises hit, capitalism will be blamed then, too. "The rich"
did it, always.
MRB
http://www.fuguewriter.com
-----Original Message-----
From: Horse
Sent: Sunday, October 16, 2011 3:31 AM
To: [email protected]
Subject: Re: [MD] This is what democracy looks like
If we wind back the clock we go back to the conditions that caused the
current mess.
These include the assumption that continual growth is possible at a rate
that is obviously unsustainable and consumption of resources by a few
that are denied to the rest of the world.
'The Market' has obviously failed or we wouldn't be in this mess but the
response of many seems to be to do more of the same. De-regulation would
appear to be at the root of the problem and until a reasonable level of
regulation is re-instated this problem will continue.
Capitalism, like Communism, has failed and those who cannot see this are
in denial.
On 16/10/2011 11:13, Ian Glendinning wrote:
I think Horse's is about right. My response to Mary's point - it not so
much
what democracy looks like, but it's what democracy looks like when it's
broken. (The problem lies in assumptions about consumption and growth, and
the addiction to "winning" instead of quality.)
The problem with the disaffected "revolutionaries" is they can show their
frustration, but someone still has to work out what the fix looks like.
Winding the clock back and starting again is unlikely to be the best
option
(for those doing the protesting, or anyone else).
Ian
On Sun, Oct 16, 2011 at 10:51 AM, Horse<[email protected]> wrote:
No, I think it's what ordinary folk look like when they realised they've
been screwed over for the last 60 years or so.
Neither Luddite nor economically illiterate - just ordinary people who've
had enough.
--
"Without music to decorate it, time is just a bunch of boring production
deadlines or dates by which bills must be paid."
— Frank Zappa
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