I disagree the late 19th century was the start of the industrial revolution and the moves in government and banking date from that time. Before that in the agrarian climate a man was more of an island. Just leave him alone and he could fend for himself. As things moved toward large employers the rules changed. Marxism in the early 20th century then socialism. All were attempts to move from control of the Capitol (the monarchy's) to a more fair method. Lot of mistakes. Capitalism is the best because it affords the most freedom thus the best chance for advancement.
here's one thing we can agree on
what we are doing today with the banking system and proposed obama stimulus
and what we did back in the 30s
isn't capitalism
the whole problem is the federal reserve and government always have the banks backs
so they know they can take on extreme risk and get bailed out....
so its this farse capitalism that is to blame
and the precedent being set by bailing out auto could have even greater repercussions
capitalism is a balance between risk and reward
what government and the federal reserve do is provide a backstop and give certain parts of the economy incentive to take on more risk at the expense of US the taxpayer.....
if they didn't have this backstop they would have to balance the risk reward just like every small business in america has to do....
and if they take on too much risk they lose their business and go under....
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also to modify when i say banks
i meant BIG banks like the goldman sachs, well fargo, JP morgan, bank of america, citigroup etc....
the small community banks are going under and the big boys LOVE it!!!
coming out on the other end of this bust the big boys will have a bigger monopoly and market share
i meant BIG banks like the goldman sachs, well fargo, JP morgan, bank of america, citigroup etc....
the small community banks are going under and the big boys LOVE it!!!
coming out on the other end of this bust the big boys will have a bigger monopoly and market share
to me, the catch word is GREED. the markets need oversight, or a relatively small group will try to rip off the rest of us(ie madoff). true reagenomics is not feasible, b/c people will steal. i think wall street overheats certain industries (oil,dot com, real estate). then wall street billionares walk away rich, the industry crashes, and the general, naive public gets screwed. humans in general are greedy and will try to steal if nobody is watching. greed also hurt my field. in the good old days, doctors made lots of $ by aggressively overbilling insurance companies. this brought hmo's into the picture. they watch the billing and cut reimbersments to drs. we're our worst enemies.
