Is capitalism a myth?

I trust that the question will not confuse most of you like a limb numb with weak bloodflow, if helpful I would suggest adding thoughts of effort and honesty and what we believe about the rewards of effort and honesty and not just the high finesse of natural talent.

I'm not asking you to ponder that though really, to be precise I honestly feel the question is fine without adding anything.

I don't want to rock-the-boat with unpalatable questions though.

People prefer the same old junk food I notice.

But I truly do prefer:

Is capitalism a myth?

Update:

[it is exactly the way I really mean

to ask it.]

- - -

And

I ask the question, yes, because I am reasonably sure it is a distinct possibility. By asking, I am not suggesting you take my word for it however,

that capitalism may be a myth.

You test the notions for yourself.

What does capitalism mean?

What does it mean for most people? And is it real?

/ Of course I am also interested in exploring the option of buying into better arguments that it is not myth.

Update 2:

->"Knock everyone down its easier to get back up again with different players." I don't mind if you don't really know what your saying. Your whole answer makes quite good sense to me and I really like the whole answer just as it is. I like it.

Update 3:

"up to this point in history" is a good qualifier.

With it, that is a fair answer too, to my eye.

Update 4:

Perhaps I should ask if Free market Capitalism is still really Capitalism if it is

just capitalism without the notion of "free market". But I suspect they are thought of as the same thing for fairly "good" reason.

Update 5:

"The world needs mixed economies."

I like the sound of that.

Update 6:

"Only subjective thing" excellent kind of answer. I don't see how that could attract a thumbdown. I only don't believe the government is a source for morals, nor a great source for the more useful kinds of education either I suppose, though it does have an ostensible stake in

encouraging the development of a variety of critical thinking skills in its supposed "by the people" populace.

Update 7:

"democracy" and such-and-such

as it were.

(I'll refrain from calling that too, a myth -or potential growing-myth

for

the

moment)

I'm more interested in the magic of American capitalist loyalty right now.

Update 8:

Hey nanny, thanks for the

long and the link.

I've a few more minutes

I'm hopping over there now.

I saw a book called the nannystate(for corprate wealfare). Something like that, it looked good.

Thanx all.

A good slate of answers here.

:)

Update 9:

"Stacking the deck"

that is a great point.

That hits it most solid. really goes the mile.

Update 10:

"Corpratist" rather than capitalist.

JEEEEZ another darn good answer.

Holy smoke, I'm a little impressed. Apparently not everyone is asleep-at-the-wheel in this world. Nice

Update 11:

Ah, the link IS the book.

Yes, I should probably collect that for the shelf one day. It's a good turn on a kind of national clownery smothered over the American sensibility we thought we once knew.

14 Answers

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  • Best Answer

    No, Capitalism is NOT a myth, but "Free Market" Capitalism IS A MYTH!!

    Doctors and Dishwashers: How the Nanny State Creates Good Jobs for Those at the Top

    From 1980 to 2005 the economy grew by more than 120 percent. Productivity, the amount of goods and services produced in an average hour of work, rose by almost 70 percent. Yet the wage for a typical worker changed little over this period, after adjusting for inflation. Furthermore, workers had far less security at the end of this period than the beginning, as access to health insurance and pension coverage dwindled, and layoffs and downsizing became standard practices. In short, most workers saw few gains from a quarter century of economic growth.

    The Workers Are Getting Uppity

    Call In the Fed!

    Much of the conservative nanny state’s economic policy is devoted to the principle of keeping doctors and other highly educated professionals in short supply, while at the same time keeping the supply of less-skilled workers plentiful. The Federal Reserve Board is one of the key nanny state tools for maintaining this imbalance. For this reason, it could have been included as a section in the last chapter. But the Fed, with its celebrity former chairman, the Maestro Alan Greenspan, is so important in this story that it deserves its own chapter.

    The Secret of High CEO Pay and Other Mysteries of the Corporation

    According to the conservative nanny state mythology (both the creationist and intelligent design variants), corporations were set on the earth at the same time as humans. They peacefully co-existed in the state of nature until the government stepped in and tried to interfere with the natural order by doing things like regulating and taxing corporations. The nanny state conservatives want the government to step back and allow corporations a freer hand to do what comes naturally: make profits. They rant about the threat posed by government regulation, and even worse “double taxation” — the fact that corporate profits are taxed when corporations earn the money, and then also taxed when they are paid out as dividends to shareholders.

    Bill Gates — Welfare Mom

    How Government Patent and Copyright Monopolies Enrich the Rich and Distort the Economy

    Bill Gates, with his rise from modest affluence to incredible wealth, is one of the heroes of the conservative nanny state. A clever college dropout, he foresaw the massive growth of information technology and developed the computer operating systems that control the vast majority of personal computers in use around the world. As a result of his extraordinary insight and impressive business sense, he became the richest person in the world, amassing a fortune that approached $80 billion at one point. Now he is devoting much of his fortune and his energy to aiding the world’s poor, financing research into the treatment of tropical diseases, and paying for millions of poor people to get vaccines and treatment that they could not otherwise afford.

    Mommy, Joey Owes Me Money

    How Bankruptcy Laws are Bailing Out the Rich

    In a free market economy, businesses know that investment decisions don’t always work out as expected. Sometimes businesses invest in developing a product that turns out not to be as good as they believed, or that doesn’t have the market they anticipated. They may invest based on trends, such as rising oil prices, that do not continue, leaving them with large losses. Or, they may extend credit to people, businesses, or countries that turn out to be bad credit risks. No one expects that the government will step in and sustain the demand for a bad product. Nor do we expect the government to intervene to make sure investors’ expectations about rising oil prices are realized, for example, by buying up massive amounts of petroleum. But when it comes to making bad credit decisions, the nanny state conservatives do expect the government to step in and bail them out.

    The Rigged Legal Deck

    Torts and Takings (The Nanny State Only Gives)

    In recent years, the nanny state conservatives have taken aim at the country’s legal system. One of the arch-villains in their mythology is the trial lawyer. According to the nanny state conservatives, trial lawyers can make 12 otherwise reasonable people award ridiculous amounts of money in damages when they sit on a jury in a court case. In the conservative nanny state mythology, activist judges are their accomplices, allowing trial lawyers to inflict harm on the productive segments of society.

    Small Business Babies

    The vast majority of small business owners in the United States are honest hard-working people who are trying to make a better life for their children than the one they have. This is also true of the people who work as dishwashers, housekeepers, and custodians. The big difference between the two groups is that small business owners earn more money, on average, than dishwashers, housekeepers, and custodians, and they hold a more favored spot in conservative nanny state mythology. As a result, small business owners can count on a wide range of special benefits from the government, including low interest loans, special tax breaks, and exemptions from a wide range of health and safety regulations that are intended to protect workers, consumers, and the environment.

    Taxes: It’s Not Your Money

    Many nanny state conservatives seem to view taxes as voluntary contributions to the government, similar to contributions to an art museum, rather than a fee that people are required to pay in exchange for the benefits of government services. As a result, they feel the need to coddle tax evaders, giving them the opportunity to pay only as much tax as is convenient.

    Don’t Make Big Business Compete Against Government Bureaucrats

    In the conservative nanny state mythology, the government is run by hopelessly inept bureaucrats who bury everything they touch with red tape. As a result, almost by definition the government is wasteful and inefficient. The term “government boondoggle” is redundant. By contrast, the private sector is full of hardworking, energetic, innovative people. It’s the land of sink or swim; those who don’t have what it takes get pushed by the wayside. The forces of competition assure us that the private sector will quickly innovate to improve quality and lower cost.

  • leilei
    Lv 4
    1 decade ago

    The economic theory of capitalism is real. Whether or not it works and beyond that, whether the US is a truly capitalistic society, is another question. Wealth is generated through efficient operations of private industry acting with a minimum of regulation and control by the government. I think the US was once truly a capitalistic society. But we are becoming more and more corporatist, blending capitalism and fascism We no longer have minimal governmental control and regulation, but a government highly involved with some corporations (favoring some) and those within government profiting from that. I think that will continue because democrats and republicans alike have a monetary interest in keeping it this way.

  • 1 decade ago

    Capitalism is an economic system.

    The only subjective thing about it is whether it is unrestrained by law, in which case it tends to drive itself to monopolies and other non-competitive forms of trade, or whether it is kept healthy by rule of law, so that each business can trade and generate goods in a fair environment and with protections for the public.

    You appear to be asking if capitalism serves a role in the morals and education of a society - Nope - it is only an economic system. The same government that enforces the laws over the capitalist market should provide those services to the public.

  • 1 decade ago

    true capitalism is no longer a fact. their is a small remnant left but it is getting smaller by the day. you cannot have capitalism when the national corporations go to the closed door meeting of the national competition council and tell them what policies to make. stacking the deck in their favor, you cannot have true capitalism when Hillary Clinton served on the Wal mart board of directors, setting up china made imports and setting up over 200,000 in corporate welfare, every time they open a store, putting a small American buisness out because they cannot make or compete with products made by slave labor in China

    Source(s): Jerome Corsi
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  • Capone
    Lv 6
    1 decade ago

    The free market has done more to improve life through innovation and entrepreneurship than any other form of economic system up to this point in human history. I'm not saying that something better might come along in the future, but till then, capitalism is king.

  • 1 decade ago

    ownership of capitalism is a myth, not capital itself. Capital is like a monster. Those who learn to tame it seem to think they have power over it, but in reality, one simple mistake could end it all for them.

    If I were a conspiracy theorist, I would say that The elite in this country purposely go through stages of boom and recession on purpose. Once you knock everyone down, its easy to go back up again with different players.

    I have no idea what I am saying really. LOL.

  • Anonymous
    1 decade ago

    Moderation is everything. The world needs mixed economies.

  • Ezz
    Lv 6
    1 decade ago

    You could say that.

    100% Capitalism is almost impossible to acheive

    Having a form of it is possible

  • Anonymous
    1 decade ago

    No. It's a word used to describe an economic system.

    Not enough information to discern what you are getting at. Your comments are pompous and basically meaningless.

    "Free Market" is a myth.

  • Anonymous
    1 decade ago

    Yeah, my mom and dad used to tell me stories about this "capitalism" just before the story of "Paul Bunion"

    Ermm wait, no they didn't... nope, capitalism is alive and well, just go to your local Wal-Mart if ya don't believe me

  • 1 decade ago

    Capitalism is living and breathing. just look around you at all the businesses big and small.

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