Why do so many people hate capitalism?

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-Sun_Tzu-

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#251 -Sun_Tzu-
Member since 2007 • 17384 Posts
[QUOTE="BranKetra"][QUOTE="Laihendi"]

What is wrong with individuals owning their own things, and choosing what to do with their things? Why can't we all be free (that means economic freedom), and respect the freedom of others? Why do so many people try to control what others do with their money/property?

LOXO7
You make it sound as if capitalism is clearly defined when in fact, it is not.

What the government want's you to think is capitalism is hard to understand. It's got to be. They are trying to control every market. America is under the influence of crony capitalism, which is not capitalism. The Fed has the ability to create money. Some people call money wealth. Confusing? It is, because it's been corrupted and still called capitalism.

So then can you define what capitalism is without resorting to vague generalities?
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CKYguy25

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#252 CKYguy25
Member since 2012 • 2087 Posts

Im gonna just sit back and grab some popcorn.

Mike-uk

can i join you?

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branketra

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#253 branketra
Member since 2006 • 51726 Posts
[QUOTE="-Sun_Tzu-"][QUOTE="LOXO7"][QUOTE="BranKetra"] You make it sound as if capitalism is clearly defined when in fact, it is not.

What the government want's you to think is capitalism is hard to understand. It's got to be. They are trying to control every market. America is under the influence of crony capitalism, which is not capitalism. The Fed has the ability to create money. Some people call money wealth. Confusing? It is, because it's been corrupted and still called capitalism.

So then can you define what capitalism is without resorting to vague generalities?

Considering what I stated in my previous post in this thread, I am quite sure that is a trick question.
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RushKing

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#254 RushKing
Member since 2009 • 1785 Posts
Capitalism is and always will be crony. How long will it take for neo-cons and neo-libertarians to understand? Politicians and executives are volunteeringly exchanging for profit; which is exactly what capitalism promotes.
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Abbeten

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#255 Abbeten
Member since 2012 • 3140 Posts

[QUOTE="Abbeten"][QUOTE="LOXO7"] That and poor monetary policy, which is today's big government intervention. I'm interested to be educated by your wisdom. Do you have any sources you learn from, so I may learn as well?LOXO7

I'm not sure how you reached that conclusion. The economy crashed in the wake of both the housing bubble collapse and the derivative market failure. Obviously it is a more complicated and nuanced situation than can be adequately detailed in a forum post, but the gist of it is that the failure to update regulation to reflect the development of new financial tools like credit default swaps, mortgage backed securities, and derivatives allowed banks to take crazy amounts of risk which yielded enormous short term profit but ended up collapsing on itself eventually. During the buildup to this, the level of easy credit had seduced households into taking on larger and larger amounts of debt (mostly mortgages). When the market crashed, everyone started trying to alleviate debt by selling off assets. But the sudden influx of supply of these assets into the market drove their prices down, which consequently drove the ratio of debt to household wealth up. Demand crashed and here we are, with low inflation rates, interest rates at the zero bound, and a government weirdly calling for austerity. As for sources, I would start here. http://delong.typepad.com/sdj/2011/03/lecture-seven-sects-of-macroeconomic-error-part-i.html

Those mortgage backed securities were backed by Fannie and Freddie, which was created by the government. It wasn't the bank's risk because it wasn't their money. The government guaranteed the bank's "risk". So the banks loaned out the government's money (from taxes or "borrowed" from the Federal Reserve) and people used that money to buy houses that they couldn't afford. Then the money being paid back to the banks if any is easy money. Money they didn't rightfully earn because it wasn't their risk to begin with. My view is that I just parrot Peter Schiff and Ron Paul, because the current system isn't working. They seem more sensible than Paul Krugman.

You're confusing mortgage backed securities with subprime loans, which only formed about 10% of the toxic assets created by the crash. MBS were purely a private bank creation, since banks could make bad loans and then sell the debt with the use of obfuscating financial tools to increase short term profits. Also Peter Schiff recently lost several million dollars since he misread the market. Ron Paul has no formal economic training. The school of Austrian economics is roundly mocked by both conservative and liberal economists because they stubbornly insist that economics cannot be subjected to mathematical analysis and must instead rely on moral arguments.
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Abbeten

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#256 Abbeten
Member since 2012 • 3140 Posts

[QUOTE="kuraimen"][QUOTE="Neoklondiak"]

So now the coversation has shifted to taxes and the public sector in general.

Not interested.

LOXO7

Well public sector is public sector be it healthcare, education, infrastructure or communications. In the end everyone ends up paying for something that benefits everyone.

I seriously consider that everyone take a look a these benefits. Maybe looking at the statistics and see if these payments are helping our children's education are helping once in a while? I hear our students are becoming less educated. I know America is one of the top spenders of public education. This doesn't make sense.

Okay. I'm looking at social security lowering elderly poverty rates by 50%. I'm looking at medicare lowering it even further. What am I supposed to be angry at again? Should I be reciting platitudes decrying inflation as theft? Should I be substituting vapid moral arguments in the place of valid economic analysis?
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T_P_O

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#257 T_P_O
Member since 2008 • 5388 Posts

OP doesn't make an attempt to understand anti-capitalism at all. They've approached the task of defining capitalism in a way that, funnily, most anti-capitalists will say "that's not what we mean when we say capitalism: that's what we want." Honestly, if you've ever talked to a radical lefty of the libertarian persuasion, you'll know that the way the OP frames capitalism doesn't even provide a base to understanding those views, it just wants to preach as far as I can tell.

On another note, it's typical that the OP doesn't do even the faintest semantic analysis of the word "capitalism". The acquisition of property in a Lockean way, with the exclusive rights to legitimize possession of objects (property) is a feature of many different economic systems. This alone is not sufficient enough to delineate capitalism from other economic systems. Mutualists, for instance, say that one is entitled (they have rights) to dispose of their property and use it how they like in a free market. Their currency would not be the same as we know it, it would be based on labour vouchers, and you'd still be able to spend that how you wanted to do so.

It's evident that capitalism is more than having property rights to do as you want with it. The OP doesn't even allow me to separate capitalism from mutualism: it's useless for investigation into the phenomenon. How am I supposed to tell him anything about capitalism or anti-capitalism?

True capitalism is what the liberals want, but they don't realize it. True capitalism means no politicians get money from businesses, because politicians have nothing to offer them. When politicians can't influence business, business won't influence government.

But alas, the ignorant masses will continue to live in their stupidity, and think that more regulations will somehow fix the problems brought about by regulations.FoxeoGames

Oh look, a badass bean-bag libertarian revolutionary on the internet.What does "true" add? Capitalism seems to vary in response to political cultures it develops in. How is the classical liberal conception of capitalism any more "true capitalism" than rhine capitalism? You're not convincing me that adding "true" is in any way a good idea.

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Laihendi

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#258 Laihendi
Member since 2009 • 5872 Posts

OP doesn't make an attempt to understand anti-capitalism at all. They've approached the task of defining capitalism in a way that, funnily, most anti-capitalists will say "that's not what we mean when we say capitalism: that's what we want." Honestly, if you've ever talked to a radical lefty of the libertarian persuasion, you'll know that the way the OP frames capitalism doesn't even provide a base to understanding those views, it just wants to preach as far as I can tell.

On another note, it's typical that the OP doesn't do even the faintest semantic analysis of the word "capitalism". The acquisition of property in a Lockean way, with the exclusive rights to legitimize possession of objects (property) is a feature of many different economic systems. This alone is not sufficient enough to delineate capitalism from other economic systems. Mutualists, for instance, say that one is entitled (they have rights) to dispose of their property and use it how they like in a free market. Their currency would not be the same as we know it, it would be based on labour vouchers, and you'd still be able to spend that how you wanted to do so.

It's evident that capitalism is more than having property rights to do as you want with it. The OP doesn't even allow me to separate capitalism from mutualism: it's useless for investigation into the phenomenon. How am I supposed to tell him anything about capitalism or anti-capitalism?

[QUOTE="FoxeoGames"]True capitalism is what the liberals want, but they don't realize it. True capitalism means no politicians get money from businesses, because politicians have nothing to offer them. When politicians can't influence business, business won't influence government.

But alas, the ignorant masses will continue to live in their stupidity, and think that more regulations will somehow fix the problems brought about by regulations.T_P_O

Oh look, a badass bean-bag libertarian revolutionary on the internet.What does "true" add? Capitalism seems to vary in response to political cultures it develops in. How is the classical liberal conception of capitalism any more "true capitalism" than rhine capitalism? You're not convincing me that adding "true" is in any way a good idea.

Really, I don't understand where all these accusations against me are coming from.
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deactivated-5b1e62582e305

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#259 deactivated-5b1e62582e305
Member since 2004 • 30778 Posts

writing

T_P_O

You need to post more, bro.

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-Sun_Tzu-

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#260 -Sun_Tzu-
Member since 2007 • 17384 Posts
[QUOTE="Laihendi"] Really, I don't understand where all these accusations against me are coming from.

Yes, you don't understand. And that is the problem.
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l4dak47

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#261 l4dak47
Member since 2009 • 6838 Posts

OP doesn't make an attempt to understand anti-capitalism at all. They've approached the task of defining capitalism in a way that, funnily, most anti-capitalists will say "that's not what we mean when we say capitalism: that's what we want." Honestly, if you've ever talked to a radical lefty of the libertarian persuasion, you'll know that the way the OP frames capitalism doesn't even provide a base to understanding those views, it just wants to preach as far as I can tell.

On another note, it's typical that the OP doesn't do even the faintest semantic analysis of the word "capitalism". The acquisition of property in a Lockean way, with the exclusive rights to legitimize possession of objects (property) is a feature of many different economic systems. This alone is not sufficient enough to delineate capitalism from other economic systems. Mutualists, for instance, say that one is entitled (they have rights) to dispose of their property and use it how they like in a free market. Their currency would not be the same as we know it, it would be based on labour vouchers, and you'd still be able to spend that how you wanted to do so.

It's evident that capitalism is more than having property rights to do as you want with it. The OP doesn't even allow me to separate capitalism from mutualism: it's useless for investigation into the phenomenon. How am I supposed to tell him anything about capitalism or anti-capitalism?

[QUOTE="FoxeoGames"]True capitalism is what the liberals want, but they don't realize it. True capitalism means no politicians get money from businesses, because politicians have nothing to offer them. When politicians can't influence business, business won't influence government.

But alas, the ignorant masses will continue to live in their stupidity, and think that more regulations will somehow fix the problems brought about by regulations.T_P_O

Oh look, a badass bean-bag libertarian revolutionary on the internet.What does "true" add? Capitalism seems to vary in response to political cultures it develops in. How is the classical liberal conception of capitalism any more "true capitalism" than rhine capitalism? You're not convincing me that adding "true" is in any way a good idea.

 You are a boss.
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T_P_O

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#262 T_P_O
Member since 2008 • 5388 Posts

[QUOTE="T_P_O"]

writing

Aljosa23

You need to post more, bro.

there's not that much here that I feel like contributing to normally I'll think about it tho
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AneurysmNirvana

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#263 AneurysmNirvana
Member since 2012 • 27 Posts
Are we really free? The word freedom is thrown around too lightly.
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deactivated-5acfa3a8bc51d

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#264 deactivated-5acfa3a8bc51d
Member since 2005 • 7914 Posts
Are we really free? The word freedom is thrown around too lightly. AneurysmNirvana
i gotta admit. america is a pretty d@mn free country. you can make it how ever out here yet capitalism is sum trash if you ask me we should go back to trading for goods. "i'll trade you my ipod for a sandwhich" and let the market reconfigure allowing important stuff like sandwhich be worth more than a ipod price...oh no what kinda market would this be? imagine paying $200 for a sandwhich and since ipods are useless pay $5 for it.