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View Diary: An era of failed ideologies (11 comments)

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  •  Per the Opening, I Don't See That Capitalism (4+ / 0-)

    and especially neoliberalism failed at what they intended to accomplish, the extreme concentration of wealth which is what comes from advanced under-regulated economies. We had that before the Great Depression and we've been restoring it for 40 some years of deregulation. The promises of the marketing didn't come true but it's been obvious to many of us that the marketing has been lies all along.

    As for the Constitution, it's my feeling that it was a century out of date when the ink was still drying.

    The framers understood some aspects of large global corporations because they'd dealt with the East India Tea Company. They worked a century after the Dutch Tulip bubble and crash so they understood issues of big finance and speculation.

    Jefferson and Madison both favored the Bill of Rights to include a ban on monopolies of commerce. According to the link that would forbid them from having the rights of humans, and would forbid corporations from owning corporations. We might have had much more to work with by the middle 1800's if such a principle had been in force.

    So they knew that economic forces could threaten an entire society, yet the framers in the end left no evidence of that and little to defend against it in their system.

    And so we began having cycles of bubbles and busts & depressions almost immediately.

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Mon Jan 20, 2014 at 02:21:36 PM PST

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