I was thinking about how socialism has become so accepted in American society, and criticisms of capitalism has resonated with students. New members of the House are great at pointing out the flaws and dangers of capitalism, such as monopolies, unfair wages, unsafe conditions, bullying by competitors, etc.
Most of us agree that these flaws must be addressed. Capitalism is the probably the worst economic system possible...except for all the rest.
The modern-day socialists can only be socialist wannabees while living in a free, capitalistic country. The flaws of capitalism in the U.S. have been addressed for more than 100 years. Employees DO have rights; they DO get benefits, overtime pay, breaks, and holidays. Working conditions are inspected and complaints are investigated. Monopolies still exist, so that must be tackled better. Mega-corporations still influence political legislation, which hurts all small businesses, so also must be addressed.
Non-capitalistic political-economic systems are much worst for employees and the environment. The working employee who wants to better his or her lot in life cannot do better than a mostly govt-free, capitalistic country.
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8 comments
Feel free to reply to any comment by clicking the "Reply" button.Capitalism is a flawed system that encourages consumerism. Fascist Corporatism is way better.
cyberfascist
Level 3
Feb 18, 2019
0
Capitalism is not perfect, TRUE. Hierarchies tend to get corrupted, understood. Only 10% of people in the economic hierarchy of capitalism are happy and are able to reach economic freedom however, it is the only system we know that gives 10% of people the ability to achieve economic freedom in a moral way.
Kahoot
Level 4
Feb 18, 2019
0
The problem is that the critical theory lens is never turned on itself. Were they to apply that same level of critique to whatever system they prefer they’d find it severely lacking.
WeAreTheShow
Level 7
Feb 17, 2019
1
Capitalism has inherent flaws yet it lifts more people upward than any other historical system. It works because it acknowledges the sinful nature of fallen man. Socialism rejects this obvious fact and believes in the perfectibility of men as a form of self salvation. Capitalism is Judeo-Christian while Socialism is Gnostic.
gkchesterton1
Level 1
Feb 17, 2019
3
Define capitalism. If you are talking about the trade between individuals in a purely voluntary basis which results in the exchange of value for an agreed outcome with no third party obligations then nothing can compete. If you are talking about crony capitalism whereby trade is restricted so a few "licensed" participants are able to monopolize and gain legislative favours and subsidies to skew trade in their favour while also limiting markets and opportunities then yes that has to be rectified.
Socialism is always the interested third party trying to place obligations and getting outcomes from the trade they are not a party to.
RichardCory
Level 1
Feb 17, 2019
2
thats a good description of the European Union
Defining capitalism is exactly what needs to be reviewed and refreshed. Monopolies, consumerism, and cronyism (esp political cronyism) is rampant today, and must be fought more severely. However, I'd rather be poor & free in a capitalistic system than poor & owned by the state in a socialist/communist system.
I believe that the dark side of mankind, or sinful nature according to the Bible, makes all systems ultimately unstable. Our American republic is a good example of government acknowledging man's worst qualities and including checks and balances on our branches of government to make it very difficult to have ultimate power.
nhunter
Level 3
Feb 17, 2019
2
Most students are taught that capitalism is bad without context, and without a grasp of history. I often ask, people in conversation, if they have a preference towards feudalism, and it usually catches them off guard. Do you think the capitalist bourgeoisie alienates the worker, as Karl Marx said? Imagine how alienated a serf feels under a liege lord. You think our society is bad now? tell that to a lineage of blacksmiths, or farmers.
Marcus_Aurelius
Level 7
Feb 17, 2019
4
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