Is unrestricted free market enterprise a form of socialism for the wealthy?

Question

It amazes me how people who hate being taxed by government, are quite happy to see companies make excessive profit, a form of private taxation that unlike government taxation only benefits a few.

I used the word "excessive profit" a country where only the top 5% to 10% of the population receive the benefits of a 15% hike in GDP would qualify for this description. Guess which large country has had these conditions and 3rd world poverty in some neighbourhoods for some time?

Answer 1

Economic liberalism has been found to be the best way to keep an economy wealthy, as attested in the "Wealth of Nations" Socialism is the method of distribution wealth throughout society to make it healthier and grow with its investment in the people. It is argued that an unrestricted free market would essentially play a similar role since the overall wealth will filter downwards.

The problem is that no unrestricted free market has ever been attempted: America trades with other countries unequally so that it remains dominant: see the farm subsidies that keep American farm produce competitive with African crops, even though they can produce at much lower prices.

The biggest problem (imnsho) with corporations was the law passed that they can be treated as private citizens and so governed by rights such as privacy: laws created to protect human rights, not corporate profits.

Answer 2

What an incredibly naive way of twisting what capitalism is about.

Taxation by definition means the FORCED extraction of wealth by a governmental entity (Key word = forced). And usually for non-productive transfer payments for no positive benefit to the society.

Profits are gotten by satisfying the marketplace with something that the market CHOOSES to buy into. It's called marketplace freedom and those that provide what others want reap the benefit. In a macroeconomic way -- unless we are talking about a monopoly or something so highly patented that a different sort of monopoly exists, a business/service is that is so highly profitable will others setting up similar to get a piece of that action.

Answer 3

You really do need to get out more. If you had the intelligence to start a business, wouldn't you like to have a really large profit and the end of the year?

Answer 4

I would answer this question with extracts from the European treaty, The European Directives on Competitive tendering and basic economic theory on the advantages of free trade and competition in a mixed economy, but from the tone of the question I don't think it will make a dent in your opinion.

Answer 5

No it is not socialism.

Well people work to make PROFIT! Why else would you work? If you start a business and don't make profit, guess what happens?

The companies you are mad at are probably the companies that pay politicians to make regulations against their competitors. A real free market would not have political entanglements.

Answer 6

Trying to show the crapitalists the error of their ways is like talking to a religionist. Waste of time.

Shaun the Fatman, don't bulls*it us with that treaty talk. Europe is quickly becoming a nightmare, especially in terms of healthcare, I know because I live here.

Answer 7

We are a corporatacracy, they rule the country, our votes are nothing more than a guise to make people think we are somehow still a democracy.

Answer 8

Corporations haters, haven't you read anything other than the Communist Manifesto in your life?