Thursday, April 27, 2000

Liberals: Do you support a market economy?

Just wanting to see how true it is that liberals oppose capitalism.

Please don't answer if you're not a liberal. If you're here to say "all liberals are socialists" or something among those lines, let me inform you that your opinion is not needed now and here.

Answer on Liberals: Do you support a market economy?

I am as liberal as anyone you will see here. I am not anti-capitalism. Capitalism has shown its advantages. It creates wealth faster than any of the alternatives. But what you're seeing today is not real capitalism.

Capitalism depends on a free market. You make something, some indispensable widget, and you have to compete with other widget makers. Someone comes up with a better idea for a widget, a better way to make them, they win. So every widget maker busts his butt trying to make them a little better, a little cheaper, constant improvement of the product. The public gets cheaper, better widgets. If you can't make better ones, you have to find something else to make.

Capitalism depends on competition, but the thing is, where you have competition you have winners. And where you have clear winners, you no longer have competition. IOW, Capitalism carries the seeds of its own destruction. For capitalism to work requires a certain amount of regulation from govt. Unregulated, the natural way of things is for capitalism to quickly deteriorate into oligarchy and monopoly. Too much regulation is as bad as too little, the art is in finding the right balance.

The trouble we've been having for the last 30 years or so has been on the side of under-regulation. Republicans got the idea that ANY regulation is just -evil-.

So we have corporations that have control of markets and the govt. actually supports them. We have companies that have grown 'too big to fail' so when they do the taxpayers bail them out. Is that your idea of capitalism? That's what conservatives want.

ANY market in the US where there are billions of dollars to be made is controlled by four or five corporations, their lead unassailable, their control of the market protected by the govt. Energy, aviation, broadcasting, publishing, entertainment, manufacturing, you name it. A static status quo protected by govt. Isn't that just another form of socialism?