In some topics, we stated that socialism may have to be wedded to capitalism.
Karl Marx cannot be dumped altogether, and socialism cannot fade out.

These are confusing times; does capitalism have a future ?

In addition, my question is; has China got it right from the beginning ?

http://specials.rediff.com/money/2008/oct/21slide1.htm


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*I am not the only one*

Greenspan, who stepped down in 2006, called the banking and housing chaos a “once-in-a-century credit tsunami” that led to a breakdown in how the free market system functions.
http://www.msnbc.msn.com/id/27335454/

when capitalist financial gurus freak out what ordinary folks like us should do?
hmm.... it is Time to buy a copy of Das Kapital.

Glad you brought up Greenspan's name.

I'm quite surprised and appalled at
what he said, even a road-side tea-stall guy would have
shown more wisdom ( handling the ec0nomy ). Greenspan fails to realise that
tsunami becomes dangerous only when wArning signs are not heeded to and one
remains at the edge of the sea waiting for a 30 ft wall of water to crush them.

Perhaps Dubya is being blamed more than he should be, and if he is
to be blamed, it should be for the reason that he did not sack Greenspan earlier.
The IRQ surge budget is nothing compared to the bunch of mess-ups
that happened in the u.s. ec0nomy.


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*I am not the only one*

US Economy....Brilliant !
Dr.Marc Faber, the investment guru, concluded his monthly bulletin (Jan 2009) with the following comments! :
 
Dr. Marc Faber tells it how it is
"The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China . If we spend it on gasoline it goes to the Arabs. If we buy a computer, it will go to India . If we purchase fruits and vegetables it will go to Mexico , Honduras and Guatemala . If we purchase a good car, it will go to Germany  and Japan . If we purchase useless crap, it will go to Taiwan . In short, none of it will help the American economy.
The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in the US .
I've been doing my part....

Then Obama and first lady went to take tution - click below for the answer.
 
http://www.sundaytimes.lk/cartoon.htm


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MAC1

World needs both capitalism and socialism.

Capitalism to fulfill human human ego and socialism to feed in to it.
Americans with their buying power feeding in to their ego and socialist nations like China supplying cheap goods for these nations.

As an example:  How much is the laptop today?  You can buy a darn good one for $400.  Something like this will cost $4000 if it is made in America.
You can find bits and pieces and laugh at capitalism.  USA may not make lot of things, however they do product design and R&D etc.   Lot of people have faith in America even though it's economy is down now.

I've got few Russian and Eastern colleagues and they are voting republicans, not dems.   They hate socialism since they know how it has failed on their nations.

What is the world heritage from Das Capital?  Just because capitalism has failed doesn't mean we need to buy in to something that has already failed.
I'd make an alternative reading:  Copy of Abhidhrama.


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"What is left when honor is lost?"

perl wrote:

  Just because capitalism has failed doesn't mean we need to buy in to something that has already failed.

Absolutely “Re wetuna wale dawal wetenna epa” (Do not fall in to the same well you fell during night and again in the day) so we do not need to go back to a closed economic policy. If capitalism in it’s phase of market economy has failed, the world will not continue in it’s failed state either. The new will become old one day and negate giving birth to new, that’s what will take place in history at large.

  
“Re wetuna wale Dawalwetenna epa” one more for RM. for his post.  



Last edited by MAC1 on Wed Apr 08, 2009 3:58 pm; edited 1 time in total
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MAC1

Negombo wrote:

Greenspan, who stepped down in 2006, called the banking and housing chaos a “once-in-a-century credit tsunami” that led to a breakdown in how the free market system functions.
http://www.msnbc.msn.com/id/27335454/

when capitalist financial gurus freak out what ordinary folks like us should do?
hmm.... it is Time to buy a copy of Das Kapital.

I do not think you will find answers in the Das Kapital, but it will help you to find and understand the future path. Do not be embarassed   it's time to read for sure good luck.  


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MAC1

During 1930 depression, Freddie Mac/Mae were formed by US govt to increase housing affordability i.e. 'spreading the wealth'. Both continue stimulating with govt concessions even during good times. 1999-2002 real-estate affordability already high with increasing wealth and low interest rates. Boom and bust is a healthy cycle of economy. This time however, Freddie Mac/Mae over stimulate the market setting it up for a bigger fall. Oversupply of dollar further increases inflation.

The housing bubble formed primarily due to an over stimulation of the market.  Excessive stimulation mostly due to a socialist policy from a bygone era. Lack of regulation had only secondary impact.

Capitalism is as old as humanity itself.  Its begins in bartering systems one neighbor exchanging his excess produce with another. It will always be here. Karl Marx and his overrated ideology goes against the very grain of human nature. His ideology has done more damage than any other over last century. Global economy survived before he came. It will do fine after his ideology is put to rest forever.


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Unthinking respect for authority is the greatest enemy of truth. - Albert Einstein

Quote:

...............Everyone knows that in England the struggle between Liberals and Democrats takes the name of the struggle between Free-Traders and Chartists.

Let us now see how the English free-traders have proved to the people the good intentions that animate them.

This is what they said to the factory workers:

"The duty levied on corn is a tax upon wages; this tax you pay to the landlords, those medieval aristocrats; if your position is wretched one, it is on account of the dearness of the immediate necessities of life."

The workers in turn asked the manufacturers:

"How is it that in the course of the last 30 years, while our industry has undergone the greatest development, our wages have fallen far more rapidly, in proportion, than the price of corn has gone up?

"The tax which you say we pay the landlords is about 3 pence a week per worker. And yet the wages of the hand-loom weaver fell, between 1815 and 1843, from 28s. per week to 5s., and the wages of the power-loom weavers, between 1823 and 1843, from 20s. per week to 8s.

"And during the whole of this period that portion of the tax which we paid to the landlord has never exceeded 3 pence. And, then in the year 1834, when bread was very cheap and business going on very well, what did you tell us? You said, 'If you are unfortunate, it is because you have too many children, and your marriages are more productive than your labor!'

"These are the very words you spoke to us, and you set about making new Poor Laws, and building work-houses, the Bastilles of the proletariat."

To this the manufacturer replied:

"You are right, worthy laborers; it is not the price of corn alone, but competition of the hands among themselves as well, which determined wages.

"But ponder well one thing, namely, that our soil consists only of rocks and sandbanks. You surely do not imagine that corn can be grown in flower-pots. So if, instead of lavishing our capital and our labor upon a thoroughly sterile soil, we were to give up agriculture, and devote ourselves exclusively to industry, all Europe would abandon its factories, and England would form one huge factory town, with the whole of the rest of Europe for its countryside."

While thus haranguing his own workingmen, the manufacturer is interrogated by the small trader, who says to him:

"If we repeal the Corn Laws, we shall indeed ruin agriculture; but for all that, we shall not compel other nations to give up their own factories and buy from ours.

"What will the consequence be? I shall lose the customers that I have at present in the country, and the home trade will lose its market."

The manufacturer, turning his back upon the workers, replies to the shopkeeper:

"As to that, you leave it to us! Once rid of the duty on corn, we shall import cheaper corn from abroad. Then we shall reduce wages at the very time when they rise in the countries where we get out corn.

"Thus in addition to the advantages which we already enjoy we shall also have that of lower wages and, with all these advantage, we shall easily force the Continent to buy from us."

But now the farmers and agricultural laborers join in the discussion.

"And what, pray, is to become of us?

"Are we going to pass a sentence of death upon agriculture, from which we get our living? Are we to allow the soil to be torn from beneath our feet?" .................

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MAC1

Gross National Happiness

http://en.wikipedia.org/wiki/Gross_National_Happiness

It has its flaws. However, this is the general direction Sri Lanka should follow.


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Unthinking respect for authority is the greatest enemy of truth. - Albert Einstein

Athos wrote:

Gross National Happiness

http://en.wikipedia.org/wiki/Gross_National_Happiness

It has its flaws. However, this is the general direction Sri Lanka should follow.

Interesting concept.
http://www.grossnationalhappiness.com/Default.aspx


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MAC1

Making money more and more only make you happy momentarily.
It is a way to occupy 'unstable' human minds.

GNH is very within the Sri Lankan friend I met who is riding the same bike during last two decades who grows Manioc and eats with coconut sambol whenever he wants to than the friend who lives in the Hyde Park Towers (The best apartment in Sri Lanka).


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"What is left when honor is lost?"

Will UNP dump it's Neo-Libaralism policy, and accept towards Bhoomiputra model? If they do, Is it a real change or just a political stunt to fool the voters.
http://www.nation.lk/2009/07/19/news1.htm

I doubt this will take place under RW's leadership.


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MAC1

MAC1 wrote:

Will UNP dump it's Neo-Libaralism policy, and accept towards Bhoomiputra model? If they do, Is it a real change or just a political stunt to fool the voters.

I think it is latter.

Typical politicians.
you have to produce what you can sell.
after war wins the partiotic sentiments are high. so just cash out of it.
if you are in a KFC you have to promote chicken.