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Capitalism
Its my belief that the kind of capitalism we curently have is not only pointless but also damaging.
Let me preface this by saying that I still support Capitalism but far more to the Left than it currently is.
I'll explain why:
Sustainability- The first objective of capitalism is growth. However, we live in a world with limited resources, limited everything. Perpetual growth is neither possible or beneficial.
Erosion of Democracy- We now have a situation where industries and companies are so incredibly large and wealthy, they intrude on the democratic workings of government.
It is now often the case that business has far more of a say on a subject than the public.
How and why do we allow this to happen? What benefit does that have to the many, it certainly has benefits for the few who are already rich.
Society Suffers- I don't think theres anything wrong with being very rich. I do think there is something wrong when you are so rich that it is utterly pointless and that money just sits in your bank account never to be used. Why be alive and part of society if all you do is take take take? Imagine all the good you could do and what you could be remembered for if you built hospitals, schools, funded scientific research and so on.
The fact of the matter is - NO GOOD can come from the super-rich. The only good is for the individual himself and perhaps those around him.
Unbridled capitalism creates ruling classes, inequality and the erosion of Democracy. It serves no purpose for 99% of the world. The top 2% of the world own half the world's wealth. Surely you'd have to be ill to think that that was the way things are supposed to be?! Why? What is the point of all that money? How couild anyone possible defend that figure?
Capitalism is based on scarcity. Always ensuring demand is equal or higher than supply. The fact of the matter is, the money of the population 'funnels' into concentrated industries who rarely return it to society. It creates a vacuum where the average Joe - 90% of us, is left with less and less and big business get more and more and are given free reign to do anything they want.
No good can come of it and something needs to be done to analyse Capitalism properly in real life. I feel the only reason that nothing has changed so far is because the people who have benefitted immensely from Capitalism have not wanted things to change and have acted accordingly. A child could see that capitalism is not sustainable.
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thegingerbreadman
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Posts: 119
Food is perhaps an example where things are different, along with water and shelter - not having one of those 3 pretty much eliminates your need for anything because you'll likely be dead. Things like the obvious example of oil is what I refer to.
Posts: 116
Obviously the issue you highlight is still valid, but I think it is worth noting that there are markets where growth relies on innovation, creativity and intelligence rather than raw materials.
As for capitalism being based on scarcity I don't really agree. Certainly this applies to luxury good, but in those cases the demand is generated not by a need for those goods but by a desire. In the case of necessities you'll find, at least in developed countries, that demand is not driven by the fact that the goods are scarce but because people assign them intrinsic value as necessities. Food has a value, there's no point in pretending it doesn't, but in developed countries it isn't scarce (I'm not getting into the morality of the second and third world here).