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  1. #31
    resonance entropie's Avatar
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    I tend to imagine how people felt years back when their was a monarchy. They probably thought that the wisdom and guidance of their king is necessary and unquestionable and they trusted him with their lifes. they would've prolly been totally scared if their king was dead. So they thought their system is the one that does meet every need of the people and does reflect the state of the art of its time.

    I think the same will happen to capitalism. For now it may be what people want (or dont want), but when people evolve and the world changes again, I think we will have a change of the political system aswell. It's again human arrogance to think the future will be like the today, cause we are already evolved and have a democracy, still there will be greedy people who wont bend to a system. It's only human to think that what we have now is the end of all development, I am convincved there will be more. More in ways we aint even able to imagine yet
    [URL]https://www.youtube.com/watch?v=tEBvftJUwDw&t=0s[/URL]

  2. #32
    Cheeseburgers freeeekyyy's Avatar
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    Quote Originally Posted by onemoretime View Post
    Minimum wages provide a wage floor which grants needed friction against the deflationary spiral you're describing.
    You've said this before. I still don't see why this "deflationary spiral" is such a problem. You said it's because people quit spending money. If that happens, the economy will adjust. People will always find something to do.

    Anyway, it was a minor point. I don't want to derail the thread. Regarding the OP - capitalism is good, but it does require regulation, as others have said; I'd say it needs less regulation than many support, though. One thing it depends on is equal treatment under the law. As it is, large companies are often able to get away with things smaller companies couldn't thanks to their ability to buy power through lobbying.
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  3. #33
    Dreaming the life onemoretime's Avatar
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    Quote Originally Posted by freeeekyyy View Post
    You've said this before. I still don't see why this "deflationary spiral" is such a problem. You said it's because people quit spending money. If that happens, the economy will adjust. People will always find something to do.
    That's called equilibrium theory. It was the dominant economic paradigm before the Great Depression. It was entirely discredited afterward.

  4. #34
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    Yes, as someone pointed out in the BRIC thread, capitalism alone isn't enough to maintain a society - while China has boomed because of capitalism, they as a country will eventually start to fail because of pollution and population growth.

    It's also interesting to note that the Russian economy was stronger under the USSR than it was during the 90's, and what strengthened Russia's economy wildly between 2000 and 2008 was blending capitalism with statist measures on evil Putin's part. You can say a lot about him, but he really did improve their economy in an almost miraculous way. Of course, they're going to have to diversify and stop being so corrupt if they want to maintain any kind of success...but that's another story.

  5. #35
    ^He pronks, too! Magic Poriferan's Avatar
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    Quote Originally Posted by freeeekyyy View Post
    You've said this before. I still don't see why this "deflationary spiral" is such a problem. You said it's because people quit spending money. If that happens, the economy will adjust. People will always find something to do
    See Japan.
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  6. #36

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    To be honest I'm thinking more and more these days that the big changes in economy are contingent on advances in machinery and technology, perhaps the next great leap forward will be new technology which is also user friendly enough to transform peoples homes into a kind of cottage economy.

  7. #37
    ^He pronks, too! Magic Poriferan's Avatar
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    Quote Originally Posted by Marmie Dearest View Post
    It's also interesting to note that the Russian economy was stronger under the USSR than it was during the 90's, and what strengthened Russia's economy wildly between 2000 and 2008 was blending capitalism with statist measures on evil Putin's part.
    In fairness, those gains also had quite a lot to do with sky-rocketing value of fossil fuels such as oil and especially natural gas, of which Russia has great claim.
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  8. #38
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    Quote Originally Posted by Magic Poriferan View Post
    In fairness, those gains also had quite a lot to do with sky-rocketing value of fossil fuels such as oil and especially natural gas, of which Russia has great claim.
    Of course that's true, and is where the capitalism part comes in, and it's also why they need to diversify NOW.

  9. #39
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    Quote Originally Posted by Lark View Post
    To be honest I'm thinking more and more these days that the big changes in economy are contingent on advances in machinery and technology, perhaps the next great leap forward will be new technology which is also user friendly enough to transform peoples homes into a kind of cottage economy.
    I think environmental technology is the next big thing that will create jobs and innovation in industry. Everyone keeps saying so, and it'd be in everyone's best interest.

  10. #40
    resonance entropie's Avatar
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    Quote Originally Posted by Marmie Dearest View Post
    I think environmental technology is the next big thing that will create jobs and innovation in industry. Everyone keeps saying so, and it'd be in everyone's best interest.
    Probably time for America to change from a financial economy to an industrial economy.

    You can feel free to correct me on that one cause I have no clue what I am really talking about (but I heard it on television !)
    [URL]https://www.youtube.com/watch?v=tEBvftJUwDw&t=0s[/URL]

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