How Capitalism Can Succeed

[BlackFlag10]

I just recently began reading How Capitalism Can Succeed, a book published in 1966 by Spencer Pollard, Ph.D. who is a former professor of economics at the University of Southern California. A few excerpts immediately stuck out to me as characteristic of our current political and economic situation in America.

"Even in the successful capitalistic nations, as their economic systems have grown more complex, there has arisen the danger that their own people, confused and divided by political slogans of right and left, will throw away their success by ill-advised actions for lack of understanding of what successful capitalism is and what it requires of them."

There is no doubting that our economic system in America is complex and is not simplifying anytime soon. With the combination of government agencies, banking entities, corporations, and private citizens, it takes nothing less than a genius, or at least someone who is well versed in multiple aspects of policy and economic theory to understand how the giant machine truly runs. Those in charge of our country barely have any idea.

How is an average American citizen expected to understand how our economic system works when there are so many parts?

The answer is that they aren't. Notice how many names have been created and assigned to recent economic situations for the purpose of identification: "fiscal cliff," "sequester," and "debt ceiling" are only a few. When these terms are tossed around in newspapers, blogs, and television shows, do Americans actually understand what they mean and what ramifications they hold? No, instead these terms become branded in their thoughts and ideas, and politicians use them as talking points to advance whatever agenda they may have. It is pretty easy to scare an average American, one who has a very limited understanding of economic policy, when you repeatedly tell him or her that we are in danger of "going over the fiscal cliff."

Read the full post at Cameron Harris: How Capitalism Can Succeed
DEFINITELY worth the read

 

[Mr. H.]

For a 1966 publication that was quite foretelling.

 

[BlackFlag10]

For a 1966 publication that was quite foretelling.

Tell me about it!

 

[The Rabbi]

For a 1966 publication that was quite foretelling.

Especially the mention of the word "blog". Who knew they had them in 1966??

 

[eflatminor]

How Capitalism Can Succeed

Find a way to eliminate the central planner gene...that malformation that allows some to believe they know what's best for everyone else.

 

[editec]

How Capitalism Can Succeed

Find a way to eliminate the central planner gene...that malformation that allows some to believe they know what's best for everyone else.

And that central planning cabal lives where in our system, Eflat?

This nation hasn't been an authentically CAPITALIST nation at least the last century.

Frankly I don't know how anyone knows they like capitalism because none of us have ever seen a society that was authentically capitalist.

Oh its dog-eat-dog capitalism for us down here in the US of A, but in the world of INTERNATIONAL MONETARISTS, it's something very different.

Doubt that?

Ask the good depositors in Cyprus how that EU version of MONETARIST capitalism is working out for them today.

 

[Mac1958]

How Capitalism Can Succeed

Find a way to eliminate the central planner gene...that malformation that allows some to believe they know what's best for everyone else.

And that central planning cabal lives where in our system, Eflat?

This nation hasn't been an authentically CAPITALIST nation at least the last century.

Frankly I don't know how anyone knows they like capitalism because none of us have ever seen a society that was authentically capitalist.

Oh its dog-eat-dog capitalism for us down here in the US of A, but in the world of INTERNATIONAL MONETARISTS, it's something very different.

Doubt that?

Ask the good depositors in Cyprus how that EU version of MONETARIST capitalism is working out for them today.

Yup.

When I hear people bemoaning the evils of "free market capitalism" all I can do is shake my head.

Markets have never been "free" and we've probably never had pure "capitalism".

The key is maintaining effective controls (which we don't), effective & efficient regulations (which we don't) and a proper firewall between politics and markets (which we don't).

What we have right now is a badly distorted version of what "free market capitalism" could be. A caricature.

.

 

[editec]

The irony, MAC, is that I understand and am sympathetic to the concept that we NEED a central bank and that central bank must be able to control the amount of currency, too.

I just don't like the design we're using.

 

[Mac1958]

The irony, MAC, is that I understand and am sympathetic to the concept that we NEED a central bank and that central bank must be able to control the amount of currency, too.

I just don't like the design we're using.

Yeah, I go back and forth on the net value of the Fed.

And the current "system" (cough) has enough huge - and I mean huge - problems that we could fix a great deal of damage there before we even got to the point where we're deciding the Fed's fate.

.

 

[LogikAndReazon]

How Capitalism Can Succeed

Find a way to eliminate the central planner gene...that malformation that allows some to believe they know what's best for everyone else.

And that central planning cabal lives where in our system, Eflat?

This nation hasn't been an authentically CAPITALIST nation at least the last century.

Frankly I don't know how anyone knows they like capitalism because none of us have ever seen a society that was authentically capitalist.

Oh its dog-eat-dog capitalism for us down here in the US of A, but in the world of INTERNATIONAL MONETARISTS, it's something very different.

Doubt that?

Ask the good depositors in Cyprus how that EU version of MONETARIST capitalism is working out for them today.

Certainly its time we changed to a "resource" based economy..............lol

 

[Katzndogz]

Capitalism succeeds to the level it can when not polluted by socialism.

 

[eflatminor]

How Capitalism Can Succeed

Find a way to eliminate the central planner gene...that malformation that allows some to believe they know what's best for everyone else.

And that central planning cabal lives where in our system, Eflat?

In Washington, in state capitals, sitting on the bench in our courts, in local school boards, and yes, at the Federal Reserve.

This nation hasn't been an authentically CAPITALIST nation at least the last century.

Agreed. Probably more.

Frankly I don't know how anyone knows they like capitalism because none of us have ever seen a society that was authentically capitalist.

Economic history.

Oh its dog-eat-dog capitalism for us down here in the US of A, but in the world of INTERNATIONAL MONETARISTS, it's something very different.

Doubt that?

Ask the good depositors in Cyprus how that EU version of MONETARIST capitalism is working out for them today

Correct, central planners at the EU have done far more harm than good. A brief look at the EU Constitution clearly demonstrates the flaw in their top-down thinking.