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#326876 - 06/22/20 07:11 PM Re: What is the purpose of Capitalism? [Re: logtroll]
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 3350
Loc: Port Angeles, WA
I think is almost everything and almost everybody..... I am also convinced that it ain't never gonna get fixed until we get fixed and I am not holding my breath on that one.

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#326884 - 06/23/20 05:43 PM Re: What is the purpose of Capitalism? [Re: jgw]
Greger Offline


Carpal Tunnel

Registered: 11/24/06
Posts: 16930
Loc: Florida
Well, yeah.

During the entire history of civilization that has been the case.

We've reached a point though where the very planet we live on will soon be un-inhabitable because of this.
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#326889 - 06/23/20 07:34 PM Re: What is the purpose of Capitalism? [Re: Greger]
logtroll Offline
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Registered: 04/26/10
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Originally Posted By: Greger
We've reached a point though where the very planet we live on will soon be un-inhabitable because of this.

Yabbut, we never had it so good (while it lasted...).

Maybe Capitalism is a "party 'til you drop" economic system?
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To change something, build a new model that makes the old model obsolete.”
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#326890 - 06/24/20 11:20 AM Re: What is the purpose of Capitalism? [Re: logtroll]
logtroll Offline
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Registered: 04/26/10
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_________________________
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To change something, build a new model that makes the old model obsolete.”
– R. Buckminster Fuller

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#326933 - 06/26/20 12:43 PM Re: What is the purpose of Capitalism? [Re: logtroll]
logtroll Offline
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Registered: 04/26/10
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Is Wall Street Capitalism in action?
_________________________
“You never change things by fighting the existing reality.
To change something, build a new model that makes the old model obsolete.”
– R. Buckminster Fuller

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#326940 - 06/26/20 08:19 PM Re: What is the purpose of Capitalism? [Re: logtroll]
Irked Offline
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Registered: 12/14/05
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Originally Posted By: logtroll


Maybe Capitalism is a "party 'til you drop" economic system?


Maybe? Unbridled capitalism is exactly that: Come in and exploit a place for its resources, either human or natural. Do everything as cheaply as possible in order to maximize return on capital. If that means starvation wages, unsafe work conditions or dumping pollutants straight into the water supply and air, then that’s what needs to happen. Once the operation is in danger of no longer being profitable: sell what you can to a mark; then bankrupt the company after being sure that nothing’s left but liabilities; find a new thing to exploit; rinse; repeat.
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#326959 - 06/27/20 11:27 AM Re: What is the purpose of Capitalism? [Re: logtroll]
pdx rick Offline
Member
CHB-OG

Registered: 05/09/05
Posts: 42973
Loc: Puget Sound, WA
Quote:
U.S. capitalism survived because it found a solution to the basic problem of its instability, its business cycles. Since capitalism never could end cyclical downturns and their awful effects, its survival required making those effects somehow socially tolerable. Systemic racism survived in the post-Civil War United States partly because it helped to achieve that tolerability. Capitalism provided conditions for the reproduction of systemic racism, and vice versa.

Every four to seven years, on average, capitalism produces a downturn (“recession,” “depression,” “bust,” “crash”—many words for a problem so regularly repeated)...

...U.S. capitalism solved its instability problem by making cyclical downturns afflict chiefly a minority subpart of the whole working class. It positioned that minority to bear the brunt of each cycle and suffer its damages disproportionally. That minority was repeatedly drawn into and then thrown out of jobs as the cycle dictated. Any savings it might accumulate when working would be lost when unemployed. Repeated firings precluded such a minority from enjoying the benefits of job longevity (seniority, promotion, household stability, etc.). Poverty, disrupted households and families, unaffordable housing, education, and medical care would haunt such a minority. It would become capitalism’s “business cycle shock-absorber”—the last hired, first fired—across the four-to-seven year average duration of its cycles.

- Alternet.org

Capitalism throws minorities out of the economic lifeboat at the first sign of a troubled economy. Makes sense as to why CPWILL supports capitalism so much. coffee
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#326964 - 06/27/20 03:40 PM Re: What is the purpose of Capitalism? [Re: pdx rick]
Greger Offline


Carpal Tunnel

Registered: 11/24/06
Posts: 16930
Loc: Florida
The purpose of capitalism is to insure a return on investment.

The capitalists are those who have capital to invest.

Quote:
In Das Kapital (1867), Marx proposes that the motivating force of capitalism is in the exploitation of labor, whose unpaid work is the ultimate source of surplus value.


That's it in a nutshell.
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#327007 - 06/29/20 04:52 AM Re: What is the purpose of Capitalism? [Re: logtroll]
pdx rick Offline
Member
CHB-OG

Registered: 05/09/05
Posts: 42973
Loc: Puget Sound, WA

With States reshutting-down different parts of the economy, I found this story interesting: How Capitalism Must Change to Survive the Pandemic:

Quote:
Then came Covid-19. Our ill-prepared country’s primary response has been social isolation, with devastating economic consequences that hit working families hardest. In the last four weeks, 22 million Americans have filed for unemployment. The pillars of America’s economy are made of sand.

And, once again, large-scale government assistance is on the way. The hope is that massive fiscal transfers to support lost income and prevent widespread household and business failures will buy enough time for science to rid us of a modern-day plague.

Just as I pointed out to a very dense and very, very wrong Right-winger, it wasn't capitalism that go us through the six week economic shutdown - it was socialism. Then again, when are right-wingers ever correct about anything, anyway? coffee
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#327087 - 07/04/20 05:31 PM Re: What is the purpose of Capitalism? [Re: logtroll]
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 3350
Loc: Port Angeles, WA
I find it interesting that those against capitalism always seem to refer to that as 'unbridled' (and similiar words) when referring to Capitalism. The simple fact is that ALL political systems, if not controlled, run rampant and are harmful. Communism is a good example of that and also pure Socialism. They ALL need to be regulated and controlled. We all know that! Its not the systems its US! The Northern Europeans, for instance, understand that and to regulate and control and socialists actually point to those bastions of Capitalism as excellent examples of socialism that works!

The problem with the my way or the highway crowd is that they seem to continue to ignore those facts, and examples of how it should be done. None of these are perfection but, when they work together, and are regulated and controlled, good things can happen. Those that believe that success, for one or the other, is possible are, as far as I am concerned, and history proves, only happens when thoughtful regulation and controls are in place and functioning.

Just saying........

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