What does pure capitalism mean to you? Does pure capitalism exist? Should it exist?

Answer 1

Pure capitalism basically means that the citizens of a country own all the factors of production (e.g. resources, labor, capital, etc.) and make all the production decisions on what the sell/buy. The market would determine what would be sold/bought. Although that might seem great to have such business freedom, that also means no government regulation. That means big businesses would be harder to get into.

If there are only a few businesses in one industry, they could work together to fix prices and rip off customers. They could use predatory methods to prevent other companies from entering the market (like making their prices very low and getting the other business to go bankrupt), and thus they would prevent good competition. Without good competition, there wouldn't be an incentive to make better products for the customer. In the end, the customer would lose. This type of business occurred with the "laissez-faire" style in France in the 19th century.

Pure capitalism shouldn't occur. There should be some regulations and laws to prevent unfair business practices. Pure capitalism doesn't exist. Most countries have a mixed economy, where the government owns/operates some industries, while the citizens own/operate some industries and make the production decisions there. Some countries are on one side of the spectrum (closer to socialism or communism) and some are on the other side (with more freedom for businesses).

Answer 2

Pure capitalism it's anarchy. Every market have to have a institution support. Democracy his the liberalism capitalism, but not pure. Pure capitalism it's only Demand and Supply, no legal protector, no authorities to check, I don't believe in pure capaitalism. But I think pure capitalism exist in North America between indigenous peoples. They trade without the supervision of any body. But, the indigenous people in North america had a strange way to see the ownership, so I don't think that was pure capitalism.

A pure capitalism market, it's maybe, the baseball card market, but, you have a catalog to watch the price, some internet webpage to check the different price. And, the catalog, the beckett magazine or any others magazines publishing the price of the goods, are an institution.

A farmer sell, you know the peoples bidding for a new cow or a power horse, male, you understand, maybe it's a good way to see pure capitalism, but this people are inform too by some review or magazines.

So, I don't think pure capitalism exist. It's like comunism, an intelectual utopy.

Answer 3

The United States ranks 9th, in the 2006 index of economic freedom. Currently the U.S. uses fiscal and monetary policy to create " zero unemployment with price stability". The Democrats support demand side ZUWPS and the Republicans support supply sdie ZUWPS. ZUWPS is detrimental to American free markets, Fedrealism and Independence.

I think the U.S. should have a Constitutional Capitalism policy. Orthodox economics, checked by the Constition, and balanced by our sovereignty. A 21st century version of Alexander Hamilton economics.

Answer 4

Depends on how far you want to go with the whole "no government involvement" thing. There's a few basic premises that people forget about when they say they don't want government involvement.

Should the government enforce contracts?
Should the government enforce property rights?
Should the government enforce any sort of personal rights nder either a criminal or civil penalty system?
Should the government produce a currency?

With NO governmental involvement, any type of sophisticated economy would be impossible. With no money, and no way to protect your property, no way to enforce contracts, and no real way of even protecting yourself, you're talking total anarchy. All you would own is what you can hold and protect yourself.

Answer 5

in pure capitalism there would be NO government regulation...and as you know...government regulates everything in America....which has it's pros and cons...but its probably better that way...in pure capitalism alot of people would get hurt because anything goes...some regulation is good...it allows consumers to be protected from harmful business practices!

Answer 6

Ironically, the purist "Capitalistic" society right now is Russia!!!