Yes capitalism was better than previous economic systems however we can now clearly see how it has corrupted society on all levels. We obviously need a new economic system that has never existed before. What do you think this new system should be like and who if anyone is working on it?
2007-11-28 09:18:57 · 2 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
It is nowhere near collapse. The difficulties we have today are nowhere near as bad as the late 70s, which were nowhere near as bad as during the Great Depression. Yet somehow the US financial systems and capitalism bounced back just fine.
Capitalism has corrupted society on all levels? Hardly. Capitalism at its core is about benefiting by doing good for your fellow man.
Sure there's corruption. There always will be in any system. And there always will be in any system that depends on people. Capitalism is far less corrupt than other system though. I believe one of government's roles is to curb the abuse and corruption that may occur in capitalism through regulation and criminal law. It's a fine balance, and I prefer less regulation than more, but it is what it is.
You could say capitalism has encouraged us all to become over consumers, and I would not argue with that. However, when it comes to freedom of choice, I'd rather leave that concern to each individual rather than some controlling entity.
2007-11-28 10:39:21 · answer #1 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
Capitalism is not collapsing. The US has moved closer to socialism but other countries are interested in moving towards capitalism (i.e. China).
2007-11-28 09:32:57 · answer #2 · answered by LGuerrrr 3 · 0⤊ 0⤋