How do you feel about capitalsim?

Question

Is it bad or is it good?

Answer 1

I think a few of these responses were insightful, and identified both pros and cons to capitalism. I think the bottom line is that when compared to other economic systems, capitalism is the better than all alternatives.

One of the previous comments alluded to a quote by Lee Trevino in support of America and the opportunities it offers. It reminds me of something else he said about his success. Trevino said, "Some people tell me I'm lucky. Isn't it funny how the more I practice, the luckier I get". Would he have been able to achieve the same level of success without the opportunities available in a capitalistic society?

Answer 2

Capitalism is the trade in capital. It is essential for a technological nation.

However, there are very good reasons that the Bible is against usury and Jesus smashed the tables of the money lenders, and business classes were held in such low esteem during the MIddle Ages. There were good reasons in chartering corporations and limiting their scope and conduct and regulating commerce to prevent theft, fraud, people taking advantage of another's ignorance and so one.

When capitalism made a resurgence after fuedalism, the grim reality of early industrialization shocked the upper classes in western Europe and eventually governments all over the world began regulating workplaces, providing health, safety and education, social security and other aid fo the poor. The resultant success and growth of middle classes made the ideal economy a mixture of both capitalism and government regulation. Countries that went to far in either direction seemed to make the wrong choices.

Answer 3

It is neither inherently good or bad. It's a good way to raise capital for large scale ventures, but beyond that... it depends on what individuals do with it.

Every system fails when the character of the participants is lacking or when they fail to adapt to changing circumstances.

For those claiming it is effecient, we wouldn't need anti-trust laws, SEC oversight, accounting regulations, and an FOMC if it was effecient. Capital markets are notoriously ineffecient, and anybody who has been through a few bubbles understands why and how they are ineffecient: they are prone to speculation, monopolization, and fraud.

Competition does lead to effeciences, but having a capital market does not imply competition.

Answer 4

It is not inherently "bad" or "good" in itself. It depends - do people abuse it to take advantage of the workers? Does government stick its fingers in the pie, syphoning off funds with excessive fees and taxes?
It has been noted that in socialist countries where the government runs & regulates everything that there is little personal initiative - nobody does anything more than they absolutely have to, and innovation is discouraged. On the other hand in some capitalist regimes there is a history of the rich taking unfair advantage.

Answer 5

Good...there is a Cadilac commercial with the Mexican American golfer Lee Trevino putting a golf bag in the trunk of a Caddy....he says remembers loading the trunks of wealthy golfers when he was a young man struggling to make a living...now he owns 5 Cadilacs...he ends the commercial by saying "America what a great country".

Answer 6

Capitalism would be great if it weren't for all the greedy crooks. People used to respect small business and now they'd rather all go to Walmart and buy cheap **** from China instead of investing in our country and it's non corporate businesses. I'd love to see someone start a chain of stores that sell only american made products, before we don't have any left. I've stopped buying as much crap as I can possibly do without. There is no way to keep greed out of capitalism as it is so human nature to try to take advantage of each other for financial gain, it's a sad truth. When I grew up all businesses were small businesses compared to now, and if you were fair to people you wouldn't become unionized, worked for my family but I watched others trying to screw their employees and it ended up costing them more in the end.

Answer 7

It is good when I have money or a sell-able idea. It is not so great when I am broke. The best thing is that in capitalism you always have a chance at getting money because others have it. In other systems you can find yourself at the mercy of the state with no alternatives.

Answer 8

Un checked capitalism is as bad as unchecked communism. When markets aren't free where possible, or controlled with free open market always the goal think economic system your in is bad. Think were ever possible free and open markets should control capital. But except for very small patches no such place exists.

Answer 9

It is good, to a point. But it can lead to unsavory business practices when left with no parameters because greedy folks will do whatever it takes to make a buck.

And it should never be applied to things like the military, police depts, and health care.

Answer 10

it's a decent economic system, but it should not be confused with a system of society.
it's goal is only profits. society's goals, however, should be greater than that. quality of life, heath, education, arts and culture etc. are all important factors in determining the quality of life of a society. capitalism alone has no interest in any of those things.

running your society on an economic system alone is boring, dangerous and uninspiring. and it's certainly not in the best interest of most of the members of that society.