What if we Killed Capitalism?

[Logan]

This is a philosophical thread.

I recently read an article (a heavily-opinionated article) about the state of the economy, and in it was contained one thought-provoking question:

With the state of the economy, and with what has happened over the past three years and many times before, the merits of our capitalistic system seem to be ending.

There wasn't actually a question mark in that, but there was an implied question: what if we killed capitalism?

I was dumbfounded. I couldn't begin to visualize what else could possibly be successful.

But maybe you guys can.

So:

What if we killed capitalism? What next?

[vic]

the main problems its not capitalism anymore its socialcapitalism but what next i do not now capitalism works when the government keep its nose out of it but thats this me

[CoreyFreeman]

Originally Posted by vic

capitalism works when the government keep its nose out of it

That's actually a free market system. Capitalism allows for some government regulated industry.

If we killed capitalism, I'm theorizing one of two things would happen:

Free Market System: Everyone for themselves. This opens the way for monopolies, which while beneficial for the owners, are bad for the customer. It'd be kind of like a game of "King of the Hill" where eventually you have some high-rollers and the rest of us trying to figure out how to make a living. More start-ups would probably happen, though.

Socialism: Government steps in and regulates the hell out of everything. Great for prices, not so great for people like us who want to start our own businesses. A new business would mean a ton of paperwork, strict moderation, and limited profits.

[SophieM]

People always say that a recession/financial crisis is capitalism ending, actual its capitalism doing what it does. The economy became over heated, and it exploded. When the economy picks up again, everyone will love it, and then it'll collapse again and the cycle repeats.

One of the reasons that nothing other than capitalism will really ever work, is that it doesn't aim to BE anything. Socialism, Communism etc. all aim too much to create a system that works the way a theorist said it would.

I suppose the only way it would work, would be if socialism replaced capitalism at a national level, state run everything, but even then, capitalism would creep up through the black market, because socialism will never cater to human nature.

I think it would also be pretty impossible to implement, the governments are controlled completely by the financial markets...until they get rid of any debt, and pretty much cut themselves off from the rest of the world - e.g. North Korea, USSR etc.

[bond]

I'm going along the lines of what @corey said. Capitalism does work- I'm not sure what the author of that article is referring to. Without capitalism, we wouldn't have a lot of the companies and businesses that we do now. While some did use the system of capitalism to their advantage and ruined lives (Enron), most companies have tried to create something of value to make people's lives better.

An environment that allows for competition seems to work pretty well. Back in the day when monopolies were all over the place, there were a lot of corruption. The way it is now seems to work when there is a ever balancing act between the business world and government.

We could just go watch Atlas Shrugged or read the book to see how the world would be if the government had total control.

And communism by default is flawed. And the reason is because we as a humanity are born to be selfish. We are out there to look out for ourselves. We do things that will benefit us in the end. With capitalism, it complements that mentality.

[jackson4Christ]

Capitalism usually get's blamed for faults not it's own.

Most "problems" with Capitalism result not from a failed system but from failed Morals. The greedy business man under paying his workers and over charging his customers is caused by his own Moral Deficiency, not the Capitalistic system in which he works.