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If by the 'American Way' you're referring to capitalism, is there another substantially different system that has produced as much innovation, wealth, and prosp

by edge17 6y ago

If by the 'American Way' you're referring to capitalism, is there another substantially different system that has produced as much innovation, wealth, and prosperity over such a short period in human history? Don't get me wrong, I understand the cynicism here. There is no perfect system, but I just don't know of one that has empirically produced better results. Certainly not socialism or communism.

ClumsyPilot 6y ago
I am sick of 'communism is worse', it's a platitude that demonstrates poor understanding of economics. Capitalism is not a singular thing, economic policy of the 30s, 60s and 2020s is very different. There are various schools of though: Shumpeterian, kensyan, neoliberal, austeian, etc. Lately neoliberal system has been dominant, and delivered remarcably poor results for most of us.
- chroma 6y ago
  I'll be the first to admit that capitalist systems have had their failures, but communist systems have never had a success. Communism was tried in more than a dozen countries across a century, in different cultures, in different geographic regions, in societies with very different levels of technological development. Not once did it create a success like Japan or Singapore or the USA or Hong Kong. Heck, we even split two countries down the middle and ran one side communist and one side capitalist (Germany & Korea). In both cases, the communist side became a hellhole and the capitalist side wasn't a bad place to live.
  - ClumsyPilot 6y ago
    oh my god, the entire point of my post is that bringing up communism is a red herring that totally derails the conversation and has no relevance. We should be discussing the economic system we currently have and various ways it is / was / can be structured. Even the justice system, the cornerstone of civilised society, has been corrupted. For example why is it that we have publicly funded police but not publicly funded lawyers that can actually hold firms to account for contract violations? Why do companies that pay no taxes enjoy priority when it comes to public prosecution over regular Joe. Why is it, that if I owe the state a few grand, I will be hauled before a court within a day, but if BigCorpX owes the state a few billion they get to negotiate a special tax deal with massive 'discounts'? The list is truly endless.
munificent 6y ago
> as much innovation War. Wartime has always been a fantastic generator of innovation. It unfortunately destroys mass amounts of capital and kills and wounds many people in the process. > wealth, and prosperity Charity and taxpayer-funded government investment. The Marhshall Plan dramatically improved the prosperity and efficiency of much of Europe and was paid for by US taxes. The Green Revolution was funded by the US, UN, and Rockefeller Foundation. Capitalism is a valuable tool, but too many accolades are laid at its feet these days.
- akimball 6y ago
  Capitalism is the only tool for insuring plutocratic fascism.

by edge17 6y ago

ClumsyPilot 6y ago

I am sick of 'communism is worse', it's a platitude that demonstrates poor understanding of economics. Capitalism is not a singular thing, economic policy of the 30s, 60s and 2020s is very different. There are various schools of though: Shumpeterian, kensyan, neoliberal, austeian, etc. Lately neoliberal system has been dominant, and delivered remarcably poor results for most of us.

chroma 6y ago
I'll be the first to admit that capitalist systems have had their failures, but communist systems have never had a success. Communism was tried in more than a dozen countries across a century, in different cultures, in different geographic regions, in societies with very different levels of technological development. Not once did it create a success like Japan or Singapore or the USA or Hong Kong. Heck, we even split two countries down the middle and ran one side communist and one side capitalist (Germany & Korea). In both cases, the communist side became a hellhole and the capitalist side wasn't a bad place to live.
- ClumsyPilot 6y ago
  oh my god, the entire point of my post is that bringing up communism is a red herring that totally derails the conversation and has no relevance. We should be discussing the economic system we currently have and various ways it is / was / can be structured. Even the justice system, the cornerstone of civilised society, has been corrupted. For example why is it that we have publicly funded police but not publicly funded lawyers that can actually hold firms to account for contract violations? Why do companies that pay no taxes enjoy priority when it comes to public prosecution over regular Joe. Why is it, that if I owe the state a few grand, I will be hauled before a court within a day, but if BigCorpX owes the state a few billion they get to negotiate a special tax deal with massive 'discounts'? The list is truly endless.

munificent 6y ago

> as much innovation War. Wartime has always been a fantastic generator of innovation. It unfortunately destroys mass amounts of capital and kills and wounds many people in the process. > wealth, and prosperity Charity and taxpayer-funded government investment. The Marhshall Plan dramatically improved the prosperity and efficiency of much of Europe and was paid for by US taxes. The Green Revolution was funded by the US, UN, and Rockefeller Foundation. Capitalism is a valuable tool, but too many accolades are laid at its feet these days.

akimball 6y ago
Capitalism is the only tool for insuring plutocratic fascism.