Monday, September 29, 2008

Capitalism: A Failed Policy

"Capitalism doesn't work in today's market place." This was a phrase I heard yesterday as I was standing around the coffee pot before any actual work began. This from the brain of a college student majoring in BUSINESS. I could hardly believe my ears, but yes this is the wisdom being taught at our colleges and universities today. Here is the thought process.

Due to the cold war the media went on a massive propaganda campaign to demonize socialism. It really isn't a bad thing, it's a good thing, in fact it may be the best thing. You just believe it is a bad thing because you have been brainwashed by the media. Capitalism doesn't work. It is only good for the employer, not the employee. As proof of why capitalism doesn't work this person then pointed to the collapse of the current banking system in the United States. "See that is what capitalism gets you. And it just hurts the common people."

Although I am tempted to explain why this kid is ignorant, uninformed and just plain wrong. I'll let this one stand on its own.


DeadMule said...

Capitalism unchecked is not a good policy. It favors the rich over the poor. If the greedy ones hadn't been allowed to do what they did, a bailout wouldn't be necessary. The rich want everything and capitalism unchecked allows them to have it for a while.

Anonymous said...

Deadmule: "If the greedy ones hadn't been allowed. . ."

That's precisely the point. Being allowed or not being allowed has nothing to do with it. The government should neither allow nor disallow any decisions by private firms. The market should dictate those things.

"The rich want everything. . ."

Everybody wants everything. I do. You proably do, too.

"Capitalism unchecked. . ."

When has there ever been capitalism unchecked? Until we try capitalism for a few decades, we shouldn't declare it a failure.

Mookie said...

I guess that kid was also taught a little propoganda through the lies of omission by the media when they failed to mention how the government used socialist policies to force companies to take on bad loan loads that lead toward all this mess.