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View Diary: America's form of capitalism kills free enterprise and democracy (95 comments)

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  •  Please expand on what you mean by (2+ / 0-)
    Recommended by:
    lostinamerica, concernedamerican

    mixed mode capitalism.

    ... but He loves you! -- George Carlin -- (-7.25, -6.21)

    by Tim DeLaney on Sun Sep 01, 2013 at 07:28:39 PM PDT

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    •  I mean (7+ / 0-)

      regulated, democratic capitalism with a social safety net.

      For instance -  FDIC insurance at banks is a form of heavy regulation with mass democratic support that enables bank deposits to be safely pooled and loaned out again for investment and had the added benefit of completely safeguarding bank accounts.  No longer is cash buried in the back yard and unproductively isolated.

      It has been enormously successful yet libertarians argue that the federal government has no business as an insurer.  

      Social Security is a democratic social safety net for the elderly.  It is a little bit of socialism backed by joint corporate and employee contributions.

      All mixed mode.

      "The way to see by faith is to shut the eye of reason." - Thomas Paine

      by shrike on Sun Sep 01, 2013 at 07:41:15 PM PDT

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      •  I'm pretty much with you, but (7+ / 0-)

        I may be more in favor of what the right calls "income redistribution".

        I think the people who produce the wealth deserve a bigger cut of the pie. I think that the power to tax can make that happen.

        I am not in favor of taking from the rich and giving to the poor. I am in favor of taking from the rich and hiring the poor to do the work that needs to be done.

        ... but He loves you! -- George Carlin -- (-7.25, -6.21)

        by Tim DeLaney on Sun Sep 01, 2013 at 07:51:26 PM PDT

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        •  Stronger labor unions would meet that goal. (2+ / 0-)
          Recommended by:
          Karen from Maui, ManhattanMan

          I very much agree with that.

          "The way to see by faith is to shut the eye of reason." - Thomas Paine

          by shrike on Sun Sep 01, 2013 at 07:53:31 PM PDT

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        •  I am in favor of taking from the rich what they (0+ / 0-)

          are obliged, just as everyone in society is obliged, to pay for the right and privilege to use roads, bridges, highways, infrastructure, and stability and peace in this country, all of which are underwritten or financed through taxation.

          If the rich are not willing to pay for their use of these things during their pursuit of profit, then they must be made to pay for their share of them.

          That is not "taking from the rich and giving to the poor," it is "making it clear to the rich that they are just like everyone else who uses roads and infrastructure and they must pay for it if they will use it, just like everyone else."

          That's one more thing to add to my long list of small problems. --my son, age 10

          by concernedamerican on Mon Sep 02, 2013 at 06:37:21 PM PDT

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      •  You mean the 20th century synthesis (5+ / 0-)
        Recommended by:
        Naniboujou, annieli, disrael, Sarenth, mkor7

        but that was imposed on Capital against its will, by domestic and foreign labor and socialist movements, reformists and revolutionaries.  Now the reality and the fear of such movements are at an end.  The only challenges to the unthreatened ideological supremacy of neoliberal capitalism are from even further to its right.  All leftist movements on a global scale, outside of Latin America, have been absolutely crushed to the point of permanent inability to reconstitute itself.

        Ever been to a town where there was one of the great IWW strikes a century ago?  Lawrence, MA, or Little Falls, N Y?  The phenomenon is the same.  All hope for a voice in their own  future, all will to resist the rule of Big Money has been entirely drained out of the working people.   We know see this phenomenon settling in on a global scale.  Even Latin America is in a shaky situation, look at leader Brazil where IMF type neoliberalism is back in the saddle, and the ruthless destruction of workers organizations that led to the founding of the PT in the first place is being recapitulated.  

        An elected president in central America was recently overthrown in a coup supported by the DC Consensus for the grievous sin of allowing banana-pickers to charge 10 cents more per case of bananas.  Ten cents per case.  That's about a quarter of a cent per banana.  What a brutal infringement on the gods of the market.  Overthrow Zelaya now!

        That's how "the free market" operates with such "optimum efficiency".

        Clap On, Clap Off, The Clapper!

        by ActivistGuy on Sun Sep 01, 2013 at 07:55:54 PM PDT

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      •  Exactly. (0+ / 0-)

        A "hybrid".

        You can't make this stuff up.

        by David54 on Sun Sep 01, 2013 at 08:01:13 PM PDT

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      •  Banks don't lend out consumer deposits. (0+ / 0-)

        In fact, consumer deposits are liabilities of the banks.  Banks are capital constrained and not reserve constrained.  Your understanding of banking is wholly out of paradigm with our modern monetary arrangements.  Loans create deposits and then find the reserves to satisfy their Govt mandated settlement balances within roughly 2 weeks of the original loan.

        MMT = Reality

        "The Earth is my country and Science my religion" Christiaan Huygens.................... Please join our Kos group "Money and Public Purpose". The gold standard ended on August 15, 1971, its time we start acting like it.

        by Auburn Parks on Mon Sep 02, 2013 at 08:48:51 AM PDT

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    •  You might try (2+ / 0-)
      Recommended by:
      shrike, Sarenth

      a work called The Social And Economic History of The Hellenistic Empires by M. Rostovtzeff (if you can find it; Amazon is only turning up his similar work on Rome).  In particular, the methods of the first dozen Ptolemies in Egypt.  Strategic commodities and basic infrastructure financed and controlled by the state; consumer goods and marginal enterprises left to individual operators; some mid-range items contracted out to monopoly providers under tight regulation.  Ptolemy I Soter was one of the most efficient monarchs for the next thousand years.

      •  yes, the more essential the industry (0+ / 0-)

        the more regulated.  See electric utilities.

        "The way to see by faith is to shut the eye of reason." - Thomas Paine

        by shrike on Sun Sep 01, 2013 at 08:12:08 PM PDT

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