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August 23, 2018

Comments

Ibod Catooga

NOugat negro nugget. What I say is fuggit, fuggit all

Tony of CA

Capitalism is well past sell by date. It's time to define a new system.

D

Good post.

The general point about circumstances needs to be made more to everyone. And particularly to libertarians.

Ralph Musgrave

Tony of CA,

If you can't explain exactly what a new or better system consists of, you're not in a good position to claim capitalism is "past its sell by date".

D in Reno

* I’m thinking here that ... SOCIALISM IS THE SPECTRUM between pure capitalism (100% private economy, no public spending) and pure communism (100% public economy, no private spending).

See OECD dataset 103 to see how much of a country's GDP is a direct result of public spending. By this measure, the US has averaged 38% socialism since 1990; the UK about 40%. Nobody is 0% or 100%. Yikes — watch out for that slippery slope!

Hinheckle Jones

I lived for a year near the border of the U.S. and Mexico. One rich and one poor. The people, the language, the religion, the main businesses and the weather were the same on both sides.

The government was the only real difference other than the relative wealth of the people on either side of the border.

Capitalism and socialism and communism are overused words that have devolved into meaninglessness.

The correct measure is the badness of the goverment. It is properly measured on a scale of 1 (not too bad -- the best you can get ) to 10 (very very bad) Zimbabwe and Venezuela today are both 9ish, they could get worse.

A few old sayings seem pertinent:
Government at its very best is but a necessary evil.
The government that governs least governs best.
Government can only give what first it takes.


alan

The power of large corporations, the need for new ideas through science and research and the need to ensure growth is environmentally sustainable all require a degree of international cooperation. Sustainable socialism has to go beyond one country...

Jake

Either the author is indulging in agnotology or is completely effing ignorant of history. WAGES HAVE BEEN FALLING EVEN BEFORE THE PRODUCTIVITY FALL OF 2008!! 1970s was when the back of labour was broken! You talk as if this graph doesn't exist!! - https://4.bp.blogspot.com/-sNBYIYPRojE/WbW7J9AUzjI/AAAAAAAAFaI/9zaukuxznWMjDbx3vTR8hZAFoNJLGzRvgCLcBGAs/s640/Worker-Productivity-Annual-Wage-Compensation.png

Jake

Here's another post showing very clearly how wages in manufacturing haven't kept up with increases in productivity. Hope this doesn't break your solipsistic bubble - https://touchstoneblog.org.uk/2013/05/the-progress-of-exploitation/

George Carty

How would _relaxing_ planning laws be a curb on anyone's property rights: surely it would _restore_ the right of property owners to build on their land?

Under the present system a person whose house overlooks the green belt may gain a nice view, but (given that they don't own the green belt land itself) isn't that a government-granted privilege rather than a property right?

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