Sunday, October 25, 2009

CAPITALISM 201 GONE WILD FOSTERS INEQUALITY

I was going to expound upon the comments made by “a voice within the financial industry”; but I decided to go with some thoughts about economic systems.

Our Free Enterprise system [Capitalism 201 Gone Wild] fosters inequality because it’s based on a set of flawed values; and hard work has little to do with financial success or happiness. This free enterprise system embraces (for the most part) a flawed concept of social Darwinism which rewards unrestrained competition over human rights.

It also says that those who adapt (Darwinian) and multiply unrestrained (free enterprise) are more valuable and the most financially successful. This system at its core, values power, money and physical assets over relationships and human rights; and it rewards exploitation. This system is most unstable.

In an economic system that values good familial and community relationships, human rights and human dignity over money and things [You can call it whatever you want]; people will agree to share regardless of one’s fitness.

This system takes into account human frailty and weakness; but tries to instill in its people the concepts of human rights, human dignity, mutual respect and cooperation; and appreciation of family and community. Innovation, creativity and true free trade is encouraged.
Trying to combine a system that values acquiring money and things -the free enterprise system we have today, with a system that values relationships and human dignity and human rights will always be inherently a flawed system; and will always be at odds trying to balance the two. They just don’t fit together well.

Denmark seems to largely embrace the second system and its people say they feel fulfilled, feel they are well provided for and feel happy. They also seem to be proud, innovative, creative and enjoy free trade.
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CONTINUED: OCTOBER 26 POST
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Update: November 10, 2010


Update: March 2010
CHASING MADOFF, BY HARRY MARKOPOLOS



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5 comments:

Anonymous said...

ALSO SEE:
YVES SMITH ON CNN 8/7/2010
http://www.c-spanvideo.org/program/294958-5

AND:
SHIRLEY SHERROD IS RIGHT. IT IS MORE ABOUT CLASS THAN RACE (JULY 2010)
http://clevelandssecretclub.blogspot.com/2010/07/shirley-sherrod-is-right-it-is-more.html

Elaine said...

**********You absolutely must read this:
"Why the U.S. Has Launched a New Financial World War -- and How the Rest of the World Will Fight Back"

http://www.alternet.org/story/148481/why_the_u.s._has_launched_a_new_financial_world_war_--_and_how_the_rest_of_the_world_will_fight_back_

Elaine said...

Great article at Alternet:

"Why Germany Has It So Good -- and Why America Is Going Down the Drain"

http://www.alternet.org/story/148501/why_germany_has_it_so_good_--_and_why_america_is_going_down_the_drain

BiPolObsessed said...

An article posted on Alternet is a must read:

"As the Country Falls Apart, It's Time for Our Revolution" by Ted Rall

http://www.alternet.org/story/148796/as_the_country_falls_apart%2C_it%27s_time_for_our_revolution

Anonymous said...

Read:
The Global Financial Crisis of 2008: The Role of Greed, Fear, and Oligarchs

https://mitsloan.mit.edu/MSTIR/world-economy/Crisis-2008-2009/Documents/09-093%20The%20Financial%20Crisis%20of%202008.Rev.pdf