It’s not capitalism when the system is plagued with incomprehensible rules…Add to this centralized federal mismanagement of farming, education, medicine, insurance, banking and welfare. This is not capitalism!
To condemn free-market capitalism because of anything going on today makes no sense. There is no evidence that capitalism exists today. We are deeply involved in an interventionist-planned economy that allows major benefits to accrue to the politically connected of both political spectrums. One may condemn the fraud and the current system, but it must be called by its proper names – Keynesian inflationism, interventionism, and corporatism.
I always find Ron Paul to be an idealogue and far too theoretical. Whenever I read this argument, I read it as saying, “The only way you can blame capitalism, is if it’s my drafted version of capitalism, which obviously will result in a near utopian society, and if you don’t do what I say, we are doomed.” It’s a conjectured and I believe a distorted view of economics in actuality.
First and foremost, no country has ever succeeded on establishing a pure capitalist or socialist economy. It has never worked. I don’t believe there is a single perfect system, yet most countries have established economic policies as a reactions to real problems that happen in an economy. When problems arise, each borrow ideas from the other spectrum in order to address them.
In our country, we started with very few rules. Children are put to work in factories, governments say, you can’t do that, have some human decency. People work and die in hazardous conditions, government says, you have to establish safety procedures to prevent this, you have to compensate people who get hurt because of your actions. These things happen and try to avoid future problems. That’s not to say that governments never intrude too much, it’s not saying that sometimes people will get around rules established, but to take an absolutist view of government intervention as the problem to everything, seems to be an outlandish claim.
While we can look at the monetary and fiscal practices the government has taken over the years and debate them (although, we have seemed to have an increasingly stable economy in the past century), and look into ways to reform practices, I have never seen a business act very responsible in an area without government supervision. That can be how it treats workers, what it puts into products, how it counts and uses money.
What Ron Paul suggests is that, even though we have a myriad of examples of these wrongs of businesses, he’d much rather put ideology in front of practicality. When you say, corporations and the government did things to cause the recent recession, yet only the government is to blame and we should tie their hands at reform to try to prevent future malfeasance. This just seems beyond impractical.
Since no country is purely capitalist or socialistic, out of every developed country in the world, you can’t deny that The United States has the strongest set of capitalist principles at play. So, on many levels, we are a living breathing example of what happens in a country that establishes a practical form of capitalism. If everything that Ron Paul said is true, then you should be able to look at Europe as the opposite, as a country with stronger ties to practical socialist economic theories. They should be the epitome of the horrible things that happen with government intervention.
Yet, when you look at several of indicators, Europeans outperform in levels of education, health, general happiness and I’m nearly willing to bet they have less fraud as well. You can’t have such a simplistic viewpoint as GOVERNMENT BAD when there are so many examples to the contrary. The world’s a more complicated place, that can’t always adhere to flights of theoretical fancy.