Originally Posted by Greenman
human virtue is decided by one's place in the economic pecking order? Well, capitalism is not a moral system - therefore an economic agent who is consistently moral will not realize as much profit as the immoral (Greshams Law?) and therefore places in the economic pecking order may tend to reflect this
Eh, Gresham's law is a theory about coin purity. Sure it uses the terms "good" and "bad" money, but not in any moral sense.
Cheers, think I'll frame 'em. Not individually mind.
Nonsense - if you look at Scandinavian economies on their own they perform relatively well - the relatively poor performance of Southern European "social democratic" economies suggest some other factors are at play - particularly when we see that Italy under neo-liberal Berlusconi has experienced similar problems, despite his "reforms"
I was pointing out the benevolent authoritarianism that goes hand in hand with the Scandinavian model. Even "liberal" Holland has no trial by jury, and lets the cops hold you for a week on a prosecutor's say-so.
As for neo-lib reforms causing the problem in Italy, it's just the opposite; Belusconi wasn't nearly neo-liberal enough, both him and Prodi are masters of unwieldy coalitions with self-styled communists a prominent feature of the political landscape. Germany barely managed the most moderate neo-lib changes to welfare, and France, with its 35-hour working week and over-regulated economy, is stagnating.
.If you look at SE Asian economies it is only through "state intervention" and regulation on a national basis that their economies have been allowed to develop protected from the gangster capitalism that "libertarian" capitalists seem to favour
Yeah true, but I'm no libertarian capitalist, so not the person to be arguing this with. Agree entirely completely free markets don't stay free for long.
You mean the problems brought on by PFI, outsourcing and the forced introduction of the market where it has no place?
No, the problems brought in by a system that was founded on a false equation; as the quality of health care rises, demand depreciates. (As everyone gets healthier.) The NHS leeches revenue instead of creating it, and demand outstrips supply.
I've no time for PFI bollocks, something should be one thing or't other.
And the response which Europe successfully adopted after the war was often based on Keynesianism, which you no doubt would classify as a dangerous socialistic tendency?
Add self-destructive socialist tendency. A disaster caused in part by regulation? Let's cure it with … more regulation. Out economy was stagnating under Keynes' ideology.
Actually, I somewhat agree with you in a devil's advocate sort of way - I wonder how long European and American corporate capitalism would survive if all support in terms of tax breaks, Export Credit guarantees, favourable government intervention, business biased planning systems, and restrictive TU legislation etc etc were withdrawn- and explicit support was given to worker takeovers in the form of co-operatives?
I've nothing against worker co-operatives. Quite the contrary, I wish more Socialists lead by example and created them. Seem to be working very well in parts of Argentina.
A poor get out - what is the economic basis of the social conservatism?
Chicken and egg; you can just as easily argue types of capitalism are products of social conservatism. Certainly the anti-poor shit from the US have far more Biblical than capitalist flavour.
I don't deny that - but what happens when something is needed but is not profitable?
Then it’s the job of the state. But there's very little that isn't profitable in some shape or form. Not that I agree that it's to the benefit of society to use anything profitable for that purpose; I'll happily rant against privatised prisons & policing any time you care to mention.
Are you? Do you support the right to secondary action (AKA Solidarity)? What restrictions would you put on unions then, seeing as the working class needs to be , in your words, "Constrained"?
Twisting what I said, I said *everyone* needs constraining. Yes, I've nothing against secondary action. Restrictions? I'm against the unions kicking the shit out of scabs and causing criminal damage, which probably makes me a frothing authoritarian around here.
As I say, capitalism is not a moral/philosophical system, it is a mode of production surrounded by a superstructure of ideological justification after the event.
Course it's a means of production, but that don't mean it lacks a founding philosophy.
Therefore, if industry can make a profit from helping the environment, then it will, if it is not in its interest (which, without state, worker or community intervention it is often not) then it will not. We are talking the profit motive and the fiduciary duty.
Actually, with appropriate fines and rewards, industry can make a handsome profit from protecting the environment; add necessity, the oil companies are some of the biggest investors in renewable technology now. Again if they genuinely cannot, it's time for government to step in; but most of the time it's government gutlessness, not flaws in the market.
And a company being set in its ways is human nature, not the fault of capitalism. Any sensible Victorian would have jumped ship from gas to electric the moment Swan & Edison came on the scene, but gas companies fought it out well into the 1920s. That doesn't make capitalism anti-electricity!
Likewise, capital must seek markets and sources of resources, and as we live on a finite planet, then these become exhausted - if the fiduciary duty is to be met, and the business is not to disappear, new sources of raw materials are sought. Where national capital is blocked for whatever politico/economic/sectarian reasons from access to raw materials it will call in its favours with national/bloc ruling classes to secure such access - hence imperialism involving diplomatic or military intervention in the affairs of other nominally "sovereign" states.
Powerful socialist countries, if any existed, would be running hell for leather after those self-same resources. Need is need.
Of course, this is in extremis - in most cases the hangover of colonialism, normal capitalist property transfers and the unjust global financial and trading systems will suffice to rob the inhabitants of "sovereign" states, tribal peoples, "undeveloped" areas of what they may have regarded as their birthright.
All of which is an argument against protectionism, not capitalism. On the few occasions a free-market is applied fairly to third world production it's worked to their advantage. Genuinely free markets would have Bush shitting his saddle.
Fair enough. So what is your solution to imperialism, neo-colonialism, market driven environmental and social destruction, exploitation and alienation at work, the decay of democracy into oligarchy on the way to the rise of demagogues and tyrants? More market, less state? Convince us that that does not mean even more power to unnaccountable corporations and amoral finance, and even less power for ordinary citizens, even less democracy than we currently "enjoy"?
Bloody hell, don't want much do you?
Capitalism is the enemy of demagogues and tyrants; you can't consolidate political power without consolidating economic power; through shareholding it holds the promise of giving everyone a piece of the pie. It's got a stinking reputation these days because all the old liberal types, for all their flaws, threw their lot in with socialism; leaving capitalist theory to the batty Thatcherite wing. We're crying out for progressives to re-engage with the ideology they deserted. Remember those first capitalists were radicals fighting to tear down trade barriers and protectionism, to replace the fag end of feudalism with meritocracy.
Oligarchies aren't capitalism, they're everything capitalism's against. It's supposed to be dynamic; it's supposed to open control of capital to whoever is best able to use it. For a start I'd vigorously enforce anti-trust laws and stop bailing out failing companies. Without all those tax-breaks and monopolies it wouldn't look nearly as rosy for uncompetitive corporations.
Problem is, there's no popular understanding of capitalism. People don't see the rot. You'd think they'd find some time to fit the most basic economic theory into schools. You Socialists should be all for that as well.