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> Harnessing the energy of people across the planet by letting them trade with each other has so clearly been a disaster for everyone, has it? Yes. Mining and

by aspec 11y ago

> Harnessing the energy of people across the planet by letting them trade with each other has so clearly been a disaster for everyone, has it? Yes. Mining and drilling have obliterated the natural resources of hundreds of millions of people around the world. That's why oil spillage in Nigeria is called an environmental disaster. > Essentially, isn't this capitalism with all its fault lines? One way or another it can be got to work for everyone's advantage. Not when capital is turned into a commodity that has necessarily less value, which are then still traded on the market as securities with no regulation. Then you end up with scenarios in which political intervention is the only method for preventing the entire global economy from collapsing. That's already happened once, which is evidence that this article's fairly milque-toast thesis is correct.

OJFord 11y ago
Why would we not have mined and drilled without capitalism? Indeed, there are present day countries serving as examples. Unless I've misunderstood your point?
adventured 11y ago
What does Capitalism have to do with your example? Capital has always and will always be a traded good. Nothing about that can ever change. Unless you plan to return humanity to the most basic of existence, living day to day, scrounging, trying not to starve without reserves. No regulation? Please point me to the industrial economy without financial regulations on any major specific thing. What happened with the global financial meltdown was very obviously not due to lack of regulation. It was caused by the Fed encouraging reckless behavior by intentionally inflating asset bubbles as an attempt to accelerate recovery from the 2000/2001 recessionary economy. Hint: they're doing the exact same thing all over again right now, they're doing it on purpose and have been for over half a decade, and they're openly admitting it.

by aspec 11y ago

OJFord 11y ago

Why would we not have mined and drilled without capitalism? Indeed, there are present day countries serving as examples. Unless I've misunderstood your point?

adventured 11y ago

What does Capitalism have to do with your example? Capital has always and will always be a traded good. Nothing about that can ever change. Unless you plan to return humanity to the most basic of existence, living day to day, scrounging, trying not to starve without reserves. No regulation? Please point me to the industrial economy without financial regulations on any major specific thing. What happened with the global financial meltdown was very obviously not due to lack of regulation. It was caused by the Fed encouraging reckless behavior by intentionally inflating asset bubbles as an attempt to accelerate recovery from the 2000/2001 recessionary economy. Hint: they're doing the exact same thing all over again right now, they're doing it on purpose and have been for over half a decade, and they're openly admitting it.