Democracy

Nation columnist Naomi Klein explores a key argument from her new book, The Shock Doctrine: The Rise of Disaster Capitalism: After 9/11 the Bush Administration launched a new economy, driven by the notion of an endless war against an undefined notion of evil. Read more in her 2005 Nation column “The Rise of Disaster Capitalism.”

Duration : 0:8:35

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Why cant people who support slavery (capitalism) go live away from the rest of the world on their own island where they can exploit their labour as they want? Some people might want to be exploited. But why cant we do this? The rest of the world will become socialist & everyone will be happy and the people who support capitalism can live in misery if that’s what they desire. You see, there is a CHOICE.

Capitalism is freedom to make your own destiny. Why would I want to live in a socialist economy where I may not be able to choose my profession and all products are similar or the same.

Is Capitalism Justified? Are the Current Justifications for Capitalism Sufficient?

-Noam Chomsky Answers These Questions in this interview

Duration : 0:10:8

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In case you were not paying attention in school, we have central banking, note the word central.

We do not have free market banking.

Even Alan Greenspan said that so long as you have a central bank it is not a free market.

Knowing this, by blaming capitalism you are being blatantly dishonest.

You’re right, if we had true free market capitalism we would be MUCH WORSE OFF.

As in reforming the structure of the economy in such a way that the market mechanism is still alive, while the government regulates some of it? If you hate capitalism, you would support the abolition of it and thus eliminate the causes of problems, as opposed to "helping" remedy the problems caused by the market. Capitalism is not an ideal system, and reforming capitalism does not make it anymore ideal. Only when all people collectively own the means of production is the society "ideal", otherwise we continue to support a system that exploits the proletariat in the framework of "helping" them.

Because experience has shown that markets are successful in some very important functions: encouraging innovation and producing high levels of overall wealth. It has also shown that it is possible to get the innovation of the market system and still have strong support for those who are in need – we haven’t done this in the US, but many other countries have shown you can do both. Attempts to build economies that don’t use the power of the market have been unsuccessful.

Or, rather, failures of the UNregulated American banking industry?

Do you agree with Nicolas Sarkozy and Angelika Merkel that there should be worldwide laws regulating the banking industry?

In light of seeing one corporate scandal after another played out on the 6:00 news night after night how successful is capitalism REALLY?

because for capitalism to work at its best, like it did in the 35 years after WW2, the government needs to intervene a bit. But ppl now are so afraid of even a hint of socialism now, that that will never happen. capitalism left to its own devices will result in, well, what he have now.

Compared to Socialist nations. South Korea is more prosperous than North Korea. East Germany was a wreck compared to West Germany. Why does anyone believe that Capitalism is bad?

Most don’t stop to think that socialist countries do not contribute anything worthwhile to society.
They need to think about where all the great inventions and Technologies came from and most came from the U.S.

I know that capitalism lets us have private ownership and stops the government from interfering with that and that mixed capitalism means that the government plays a role in the economy by their policies and such, but what is the real difference? Can they be compared like socialism and capitalism? I have found different definitions but most seem to be the same for both terms. HELP! PLEASE!

Pure capitalism allows for the total exploitation of workers. Mixed capitalism regulates it by adding minimum wages, worker’s rights to join unions and go on strikes. Socialism is different to capitalism because capitalism advocates the privatization of capital whence socialism promotes the collective ownership of the means of production.

21st century life is confusing. College majors don’t produce financial security. Being unaware of how capitalism works and how the business world works is a hindrance for any one not born with a trust fund.

What books or movies do you feel teach kids about life and business.
And, importantly, the kids will actually read?

*Whatever Happened to Penny Candy?* by R Maybury is a great book written for ages 11-13 and is interesting and informative even for adults. It gives some historical examples that read almost like a trivia book.

The publisher’s website describes it this way-
~ This clearly written book about economics is a remarkably easy and fun explanation of investment cycles, velocity, business cycles, recessions, inflation, the demand for money and more. Essential for every student, businessperson and investor. Recommended by former U.S. Treasury Secretary William Simon. It is also on many recommended reading lists.

The word "essential" might be a bit hyped, but I’ve read the book and that is a fair assessment otherwise. That link is below, but I’ve seen it slightly discounted at homeschool conventions.

I’m going with Capitalism all the way. Sure in it’s unadulterated form it isn’t as great as an regulated free market, but it’s 10,000 times better than pure Democratic Socialism.

If I’m a CEO I’ll take capitalism all the way. I think pure capitalism is a great idea in theory, in practice it’s corrupting and evil. If anyone cares to read up:

http://en.wikipedia.org/wiki/Democratic_socialism