Was Capitalism a smokescreen, or a magic carpet?

TruckerT

The carpet is being pulled from beneath us, and the smoke is not yet clearing

The banks 'got away with it' not because of the absence or presence of appropriate regulation, but because they are part of the 'establishment'

MPs did the same with their fraudulent expenses claims, but some were prosecuted, and were expelled

The banks however are still fully paid-up members - and continue to profit from the chaos which they have created, as the LIBOR/Lloyds thing demonstates

The 'establishment' consists of a single-figure percentage of the population which controls nearly a three-figure percentage of the wealth - they could have bailed the banks by themselves, but, no, its the rich getting richer and the poor getting poorer

TruckerT

ruggedtoast

Capitalism encourages people to endeavour to do things they wouldn't otherwise do, which can be good or bad.

However it provides a legitimacy to inequality that didn't seem to preside over other systems. Under feudalism for example, serfs were under no illusions that they were never going to be anything other than serfs, but they weren't supposed to feel bad about this fact. The feudal lords after all were rich through dumb luck, or God, which amounts to the same thing.

Nowadays the only justification you need for having a lot of money is that you have a lot of money, and having a lot of money confers attributes on an individual they clearly don't always possess. Intelligence, wisdom, culture, etc.

TruckerT

ruggedtoast wrote: »

Capitalism encourages people to endeavour to do things they wouldn't otherwise do, which can be good or bad.

However it provides a legitimacy to inequality that didn't seem to preside over other systems. Under feudalism for example, serfs were under no illusions that they were never going to be anything other than serfs, but they weren't supposed to feel bad about this fact. The feudal lords after all were rich through dumb luck, or God, which amounts to the same thing.

Nowadays the only justification you need for having a lot of money is that you have a lot of money, and having a lot of money confers attributes on an individual they clearly don't always possess. Intelligence, wisdom, culture, etc.

I appreciate your support, and I think you are just as confused as me!

TruckerT

Shawn_Dark

"Usury is the lowest form of deception..."

BobQ

ruggedtoast wrote: »

However it provides a legitimacy to inequality that didn't seem to preside over other systems. Under feudalism for example, serfs were under no illusions that they were never going to be anything other than serfs, but they weren't supposed to feel bad about this fact. The feudal lords after all were rich through dumb luck, or God, which amounts to the same thing.

.

True indeed. The Great Money Trick continues to happen in different ways to successive generations. Once the poor were controlled by relying on their jobs for the roof over their head. Tied cottages have now given way to mortgages and debts. Boith stifle objections by the oppressed.

Thrugelmir

TruckerT wrote: »

The 'establishment' consists of a single-figure percentage of the population which controls nearly a three-figure percentage of the wealth -

Have you been reading about the Normans and the Doomsday Book?

Has the world ever been any different?

TruckerT

Thrugelmir wrote: »

Has the world ever been any different?

No - never

But it could get much much worse if we let it...

TruckerT

Thrugelmir

TruckerT wrote: »

But it could get much much worse if we let it...

TruckerT

Perhaps we're at the beginning of a new era.

TruckerT

Thrugelmir wrote: »

Perhaps we're at the beginning of a new era.

It would be nice to think so, but in the light of the predicted climate change, new does not necessarily mean better

In what areas would you like to see change?

TruckerT

Thrugelmir

TruckerT wrote: »

In what areas would you like to see change?

TruckerT

Splitting the banks into retail and investment.

Executive pay linked to long term performance.

Capping of public sector pensions to a limit of say £50k a year.

Ownership of utility companies returning to the UK rather than foreign ownership.

Better financial education in schools

Encouraging pension savings.

Savings plan to assist 1st time buyer of property.

More vocational training and apprenticeships

TruckerT

Thrugelmir wrote: »

Splitting the banks into retail and investment.

Executive pay linked to long term performance.

Capping of public sector pensions to a limit of say £50k a year.

Ownership of utility companies returning to the UK rather than foreign ownership.

Better financial education in schools

Encouraging pension savings.

Savings plan to assist 1st time buyer of property.

More vocational training and apprenticeships

The world is changing, but none of your ideas will change the world

TruckerT