Is capitalism failing?

[sasguru]

Erm, no. If you've grown up in a western country, you've probably had access to state funded education, clean water, plenty to eat, healthcare and decent housing; those are the basics that form 'opportunity', and if you want to, you can achieve a hell of a lot from that basis. Lots of people in the third world don't have those basics.

That's what the state gives you, more or less.
If you want opportunity you need capitalism to generate jobs (since most people are not entrepreneurs). This is in decline in the West as the large corps realise that their future markets are going to come from the more populous and younger demographic of the East.
Then the West will not be able to afford the state education and free healthcare.
This is already happening - remember free dentists and student grants?

[stek]

I've spoken to many older Russians who told me under Communism they had;

1. Very low crime

2. Free housing

3. Free gas/water/elec

4. Full employment

5. Free health

6. Zero inflation

7. Free education

Almost all their earnings were disposable.

Not saying it's what I'd want but for some it was much more preferable to the rat race they live in now.

[gingerjedi]

Capitalism has been very successful for the western world. Compare the lifestyle we all have now compared to some developing/communist countries. Freedoms that Ai Weiwei is denied we all take for granted. Is is perfect? No, but ill take it any day over other ideologies that may sound good in a text book but applied are a disaster.

That would have made sense 20 years ago, we are now witnessing a slow collapse of the western world but the majority don't recognise what is happening.

Doomed etc...

[DodgyAgent]

I've spoken to many older Russians who told me under Communism they had;

1. Very low crime

2. Free housing

3. Free gas/water/elec

4. Full employment

5. Free health

6. Zero inflation

7. Free education

Almost all their earnings were disposable.

Not saying it's what I'd want but for some it was much more preferable to the rat race they live in now.

It went bust just like anything run by a socialsit

[sasguru]

It went bust just like anything run by a socialsit

Eventually most things run by capitalists go bust too.

[BlasterBates]

I've spoken to many older Russians who told me under Communism they had;

1. Very low crime

2. Free housing

3. Free gas/water/elec

4. Full employment

5. Free health

6. Zero inflation

7. Free education

Almost all their earnings were disposable.

Not saying it's what I'd want but for some it was much more preferable to the rat race they live in now.

It's true it wasn't that bad the reason why they got rid of it was because they ran out of money.

Basically the whole Soviet Block and their Satellites had huge debts. That's why China dumped Communism. East Germany had the highest standard of living because they could raise even more money from West Germany by selling dissidents and allowing families to visit, sort of blackmail really.

Basically soon after Stalin and Chairman Mao who made Communism pay for its way by periodically starving huge swathes of their population to death, the new generation came in and (fair do's to em) tried to give their populations a decent standard of living. This worked for a while but, it was a bit of an illusion driven by Western debt rather than "the great leap forward" gradually the debt built up.

So it in the end it doesn't really work.

Cuba hung in there but I'm not sure I'd want to be Cuban.

[Mich the Tester]

That's what the state gives you, more or less.
If you want opportunity you need capitalism to generate jobs (since most people are not entrepreneurs). This is in decline in the West as the large corps realise that their future markets are going to come from the more populous and younger demographic of the East.
Then the West will not be able to afford the state education and free healthcare.
This is already happening - remember free dentists and student grants?

Yep, good points, but I'm not convinced that the west doesn't have the strength to bounce back. Remember, we have not only great universities producing both fundamental and practical knowledge, but also a climate of free thought that attracts the best thinkers, researchers and creative people, and (for now) some means of funding talent through education. Kill that and then, I agree, we're ****ed.

[xoggoth]

Unrestrained capitalism and marxism are equally as bad. Society only really works if you have proper restraints on self interest, to me that is the free market with proper government regulation.

[doodab]

All political systems are ultimately hamstrung by the requirement to persuade human beings to go against their natural instincts.

[Peoplesoft bloke]

.

So it in the end it doesn't really work.

Cuba hung in there but I'm not sure I'd want to be Cuban.

I have met a Cuban bloke (in Cuba) who was able to talk freely. He was very angry with the Cuban system, but loves Cuba - so much so that he went back after being one of the very few allowed to leave and travel freely.

Many young Cubans will no doubt follow the same path of disappointment that average folk in the Communist bloc did. The fact is that under Capitalism the average Joe is still a slave - as Joe Stummer once observed, it's still the same people driving around in the black limos (SAS in this case evidently). Unfortunately a lot of people thought that "freedom" would deliver wealth too.