Chogy
PROFESSIONAL
- Joined
- Jun 17, 2010
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Modern successful societies have a system that can be called "Capitalism with oversight." Absolutely PURE capitalism doesn't exist, probably never did, but the closest was probably England at a time when there was little to no laws regarding child labor, monopolies, environmental abuse.
Pure capitalism is Darwinian at its core. Anything goes - if you can get away with paying child laborers 10 cents per day, and the market bears that, you're good to go. You can dump your waste anywhere, rivers for example. You can collude with other rich capitalists to artificially boost prices. The list is endless; thankfully, none of this goes on, legally, at least.
By tempering pure capitalism with sensible laws, you can get the best out of it and suppress the worst. At the heart of capitalism is the need for equal opportunity under the law. This means the black immigrant from Chad has the exact same opportunities and circumstances as the native born person. It is up to the individual to make the most of his opportunities.
I think we can agree that when China introduced elements of capitalism into its system, China took off economically. I don't see how that can be disputed.
Pure capitalism is Darwinian at its core. Anything goes - if you can get away with paying child laborers 10 cents per day, and the market bears that, you're good to go. You can dump your waste anywhere, rivers for example. You can collude with other rich capitalists to artificially boost prices. The list is endless; thankfully, none of this goes on, legally, at least.
By tempering pure capitalism with sensible laws, you can get the best out of it and suppress the worst. At the heart of capitalism is the need for equal opportunity under the law. This means the black immigrant from Chad has the exact same opportunities and circumstances as the native born person. It is up to the individual to make the most of his opportunities.
I think we can agree that when China introduced elements of capitalism into its system, China took off economically. I don't see how that can be disputed.