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Here is what Happens in a Socialist Economy.

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posted on Feb, 28 2019 @ 12:38 PM
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originally posted by: Edumakated
Capitalism works because it relies on free will for the exchange of goods and services. The invisible hand of the free market tends to correct ills. It isn't perfect, but it does eventually work to expose and correct bad players in the market. You see this on a local level when a business gets bad reviews and some businesses boom by word of mouth.

Those complaining about monopolies, etc need to realize that government is what eventually causes that situation by allowing a business to use the power of regulations, etc to stifle competition.

Competition is what keeps prices low and acts as a natural regulator of business. Anything that limits competition will typically result in less favorable outcomes for consumers.


Pure Capitalism doesn't exist in the US. One example would be how the Federal government subsidizes the Energy sector. US subsidies granted to the oil and natural gas industries amount to anywhere from $10 billion to $52 billion annually.

Labor Laws & Regulations keep industry in check. During the days of laissez faire capitalism, there were no child labor laws and a 40 hour work week for the average worker was unheard of. Weekends off? Nope.

Laissez Faire capitalism policies lead to recession and labor abuse. There is no "invisible hand" that corrects ills without government intervention. How does competition regulate prices when there is none? Pure capitalism without government regulation and over site leads to monopolies which eliminates competition. This country has seen it in the past.




posted on Feb, 28 2019 @ 01:25 PM
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a reply to: Blarneystoner

Standard oil was a prime example of how capitalism can go wrong for a nation.



posted on Feb, 28 2019 @ 01:43 PM
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originally posted by: strongfp
a reply to: Blarneystoner

Standard oil was a prime example of how capitalism can go wrong for a nation.


Actually, it wasn't...

The Myth of Standard Oil




In 1911, the court declared Standard Oil a monopoly and ordered its breakup. Revealingly, as scholars have noted, the court made no mention of either predatory pricing or withholding production, as monopoly theory maintains. In fact, economist John S. McGee reviewed over 11,000 pages of trial testimony, including the charges brought by Standard Oil’s competitors. Publishing his findings in the Journal of Law and Economics, he concluded that there was “little to no evidence” of wrongdoing, adding that “Standard Oil did not use predatory price cutting to acquire or keep monopoly power." Furthermore, and also in contradiction to monopoly theory, Standard Oil’s share of the market had declined from close to 90 percent in the late 1800s to about 65 percent at the time of the court’s ruling. These facts, however, did not faze the judiciary. The court ruled that because Standard Oil had consolidated some 30 divisions under one single management structure it counted as a monopoly.

In other words, Standard Oil did precisely the opposite of what monopoly theory maintains—it reduced rather than raised prices, it increased rather than cut production, it lost rather than “controlled” market share, and it paid its employees more rather than less than its competitors—yet the theory that Standard Oil engaged in “predatory practices” and “exploited” consumers has prevailed in our history books.



edit on 28-2-2019 by Edumakated because: (no reason given)



posted on Feb, 28 2019 @ 01:47 PM
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originally posted by: Breakthestreak
a reply to: dfnj2015

You don’t fix a headache with a shotgun in the mouth

You DONT fix capitalism with socialism
find something in the middle, like Britain, you can make your fortune here if you want it enough, and nobody goes bankrupt for getting cancer.



posted on Feb, 28 2019 @ 03:05 PM
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a reply to: Edumakated

That's interesting. But I thought it was because of their monopoly on oil refining. They owned almost all oil refinaries in the states.

I think the myth is the undercutting aspect. But theres other reasons a company can be seen as a monopoly.



posted on Feb, 28 2019 @ 03:26 PM
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There is sosio-economic system called PROUT, founded by Indian Guru Shrii Shrii Anandamurti (P R Sarkar) which combines the best sides of capitalism and socialism. He also said while visiting Venezuela in 1979, that "Venezuela needs good spiritual political leaders. If Venezuela can produce spiritual political leaders, it will not only be the leader of Latin America, it will also be the leader of the planet. Venezuela is a blessed country."

He said also that India will become the spiritual leader of the world. You may see more here, proutscandinavia.blogspot.com...



posted on Feb, 28 2019 @ 03:41 PM
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It's odd that a lot of the countries that enjoy the highest standard of living are essentially socialist. Fake news?

www.businessinsider.com...
edit on 28-2-2019 by olaru12 because: (no reason given)



posted on Feb, 28 2019 @ 03:50 PM
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a reply to: ClovenSky

Marx died not even knowing that communism could be a thing. His manifesto was used as simply a 'guide' for future communist states. Which obviously failed or were outrageously not to what Marx proposed. He was more critical and skeptical of capitalism than anything else.

It's like Hitler with Nietzsche, a guy long dead, yet had huge influence for the wrong reasons because they interpenetrated the philosophies in a twisted way.

I think for a healthy society, capitalism and socialism can work together, that's my honest opinion. But in the future I think more socialist ideologies will become the norm. New parents can choose who can stay home for extended leave, people can retire earlier, healthcare, cheaper education, lowered taxes for citizens, which will feed the economy even more, higher taxes for business' because automation will drive profits way up, but cost to manufacture will drop significantly. Who knows.
edit on 28-2-2019 by strongfp because: (no reason given)

edit on 28-2-2019 by strongfp because: (no reason given)



posted on Feb, 28 2019 @ 04:17 PM
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a reply to: strongfp

Agreed...

The US current system is a mix of capitalism and socialism. We enjoy plenty of social programs and a restrained capitalist economy.

Pure capitalism is just as "evil" as pure socialism. Extremism isn't the way in any system. Moderation in all things...



posted on Feb, 28 2019 @ 04:19 PM
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a reply to: ElectricUniverse

There are extremes on both sides of the aisle.
In Venezuela, you have politicians dictating prices at the government level, which are set to low.
In the USA, you have lobbyists propping up prices at the government level which are set to high.


Lobbyists in the insurance and pharma sector donate the most to politicians and have the highest prices in the world.

We need to meet in the middle or throw the lobbyists out of DC.



posted on Feb, 28 2019 @ 04:21 PM
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originally posted by: Blarneystoner
a reply to: strongfp

Agreed...

The US current system is a mix of capitalism and socialism. We enjoy plenty of social programs and a restrained capitalist economy.

Pure capitalism is just as "evil" as pure socialism. Extremism isn't the way in any system. Moderation in all things...


That's just not true. Social programs is not socialism.



posted on Feb, 28 2019 @ 04:26 PM
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a reply to: MadLad

What do you define as social programs?



posted on Feb, 28 2019 @ 04:34 PM
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What's not true? I don't know what you mean when you say "That's".

BTW - I never said Social Programs were Socialist. ;-)

But we do seem to have a lot of business sectors on Federal welfare. So I'm confused.... are Republicans for less Federal intervention or more? Cause $52 billion is a # load of money...



posted on Feb, 28 2019 @ 04:38 PM
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originally posted by: strongfp
What do you define as social programs?

Collective action to ensure specific needs/wants are met.

Social programs are not socialism because they do no confer ownership or control to the general public.



posted on Feb, 28 2019 @ 04:46 PM
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originally posted by: strongfp
a reply to: MadLad

What do you define as social programs?


Subsidies, welfare, medicare, etc.



posted on Feb, 28 2019 @ 04:46 PM
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originally posted by: Blarneystoner
What's not true? I don't know what you mean when you say "That's".

BTW - I never said Social Programs were Socialist. ;-)

But we do seem to have a lot of business sectors on Federal welfare. So I'm confused.... are Republicans for less Federal intervention or more? Cause $52 billion is a # load of money...



Sorry, this part to be specific:

"The US current system is a mix of capitalism and socialism. We enjoy plenty of social programs and a restrained capitalist economy. "



posted on Feb, 28 2019 @ 04:51 PM
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a reply to: peck420

When you heavily tax company's and the money is recirculated back into the population through social programs what is that considered?



posted on Feb, 28 2019 @ 04:53 PM
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originally posted by: strongfp
a reply to: peck420

When you heavily tax company's and the money is recirculated back into the population through social programs what is that considered?


Frederic Bastiat called that legal plunder.



posted on Feb, 28 2019 @ 04:57 PM
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a reply to: ElectricUniverse

Why no mention of France, Denmark, Ireland, Australia, Canada, Sweden, Germany?

I’ve yet to hear a current political candidate long to be like Venezuela.

And how authoritarian of you telling your fellow Americans to move to another country if they desire a change you don’t agree with.

You get involved in our political process and I’ll get involved as well. We’ll practice Democracy in this Republic and not shout at each other to ‘get out of my country!’

Doesn’t that seem like a much better mantra?



posted on Feb, 28 2019 @ 05:01 PM
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originally posted by: strongfp
a reply to: peck420

When you heavily tax company's and the money is recirculated back into the population through social programs what is that considered?



Collective action to ensure specific needs/wants are met.



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