Can Capitalism Be Fixed?
Comment on: Franken Wins Minn. Race After Coleman Concedes at 7/3/2009 8:14 PM EDT
James Stewart,
"The current financial meltdown has about as much to do with capitalism ... you have to read them.
Hypocrisy is rampant."
I followed the link you provided which led to a Wall Stret Journal article about how members of congress are flying all over the world on our dime. Are you obtusely implying that it's spending on junkets that caused the meltdown? Pardon my skepticism but it seems that unbridled greed (aka 21st century capitalism), has more to do with the meltdown than congressional junkets that have been going on for over a century.
The bundling of mortgages into unregulated securities is not capitalism? What other economic theory would support such a scam? I know the knee-jerk reaction among Repugnants is to say that it's socialism but one would have to be pretty stupid to believe that.
Capitalism as practiced by Henry Ford, who knew he had to pay his workers well enough so they could afford to buy his cars, was described as enlightened self interest. Today's capitalism maximizes stockholder dividends at the expense of workers' wages; workers' buying power shrinks. Today's capitalism, though unenlightened, is still capitalism. Your post left me with no idea what you think is to blame for our meltdown. Junkets?
"The current financial meltdown has about as much to do with capitalism ... you have to read them.
Hypocrisy is rampant."
I followed the link you provided which led to a Wall Stret Journal article about how members of congress are flying all over the world on our dime. Are you obtusely implying that it's spending on junkets that caused the meltdown? Pardon my skepticism but it seems that unbridled greed (aka 21st century capitalism), has more to do with the meltdown than congressional junkets that have been going on for over a century.
The bundling of mortgages into unregulated securities is not capitalism? What other economic theory would support such a scam? I know the knee-jerk reaction among Repugnants is to say that it's socialism but one would have to be pretty stupid to believe that.
Capitalism as practiced by Henry Ford, who knew he had to pay his workers well enough so they could afford to buy his cars, was described as enlightened self interest. Today's capitalism maximizes stockholder dividends at the expense of workers' wages; workers' buying power shrinks. Today's capitalism, though unenlightened, is still capitalism. Your post left me with no idea what you think is to blame for our meltdown. Junkets?
Labels: capitalism, meltdown, mortgages, politics
posted by Unknown at 7/08/2009 06:27:00 PM
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