Originally Posted by joe
I am assuming by "Republican fundamentals of economy," you are referring to capitalism- even though the Republicans themselves don't actually understand capitalism either. But in any event, we have a central bank, we have a highly regulated economy, we have an income tax, we have an entitlement system, we have perpetual military action. All of these things are antithetical to capitalism.
If America is going to get past our struggles, everyone needs to start being honest with themselves. Left Right Libertarian Independent.. everyone needs to face facts, or else any solutions we come up with will be based on bad information. And it's just not factually correct to imply we've had free market capitalism over the last 10 years. I'm not even saying that because I support capitalism, which I do. But to say we've been operating under capitalism is like saying the sky is red and the grass is purple. It's just not correct, no matter if you support capitalism or not.
We have a mixed economy. There's a large element of capitalism, but don't get it twisted- major major elements of the economy are government controlled. And loads more are distorted by government policy, in my opinion negatively. I'm especially referring to the money, but the banking sector is not even recognizable from a free market standpoint, it's been so transformed by government intervention. We have regulation agencies for medicine, pills, the environment. Mostly everyone in the country is educated in government schools- not private schools. Anyone looking to start a business in almost any sector must deal with government licensing and regulation- why do you think businesses have compliance departments? Government hands out college loans and health insurance- both distorting the market and raising prices.
I think most anti-capitalism people look over these things, because they assume that without them... capitalism would perform even worse. So it's almost like they're doing capitalism a favor by not bringing them up. But pro-capitalism people have the exact opposite opinion- it's precisely these things that are causing the most harm to our economy.
If you want to argue that we still need less capitalism, or that our problems would be made worse by introducing more freedom into the economy.. fine. But when you imply "free market capitalism has been put to the test for the last 10 years," that is just wrong. And whoever told you that is either dishonest, or doesn't know what he's talking about.
Man you went off on a tangent that had absolutely nothing to do with my post
But I'd like to just address the bold- nowhere did I attack free market capitalism, just specifically the deregulation and Reagonomics 'trickle down' theory. I don't know of any historical or present economy that was purely laissez-faire and I don't think anyone in their right mind would even want to see that, it'd be like a Dickens' novel on crack. What I was arguing is that the two aforementioned institutions, which many on the right are calling for a redux of, has been proven to be a failure. I don't know how you can look at the events of '08, and economic barometers of the past 10 years or so and conclude otherwise.
We were all there. We saw it play out in real time. Yet people want to double down on another recession and/or possible depression?