6 thoughts on “Paul’s One Big Question for October 26, 2018”
Glad you’re back and hope you’re feeling better. As for you big question, I think it might be too big for me. My first instinct is to say no. I think it would lead to even greater income inequality. We might get a chance to see how that works with the current administration, the tax cuts for the wealthy, and the deregulation they are aiming towards.
As for your question… I’m not an economist (nor I don’t play one on tv or internet – lol!), but I’m gonna go with no as my answer. Pure capitalism relies on competition to determine value, on availability of resources to make products, and on manufactured “need” to drive markets. And anything that encourages the “bottom line” of profits first is primary.
While such factors might drive down prices, they also determine what products are produced (consider our antibiotic crisis, for example), encourage exploitation (of workers, resources, and consumers), and dictate a caste-like system of have’s and have-not’s.
But then, me not being an economist, I understand I may not fully grasp how market dynamics work in a truly (and totally) capitalistic environment.
Glad you’re back and hope you’re feeling better. As for you big question, I think it might be too big for me. My first instinct is to say no. I think it would lead to even greater income inequality. We might get a chance to see how that works with the current administration, the tax cuts for the wealthy, and the deregulation they are aiming towards.
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Every time they talk about raising the minimum wage, it’s shouted down over fears it will bankrupt the economy.
Capitalism absolutely cannot exist without a poverty class to do the work.
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Hope you’re feeling much better, Paul!
As for your question… I’m not an economist (nor I don’t play one on tv or internet – lol!), but I’m gonna go with no as my answer. Pure capitalism relies on competition to determine value, on availability of resources to make products, and on manufactured “need” to drive markets. And anything that encourages the “bottom line” of profits first is primary.
While such factors might drive down prices, they also determine what products are produced (consider our antibiotic crisis, for example), encourage exploitation (of workers, resources, and consumers), and dictate a caste-like system of have’s and have-not’s.
But then, me not being an economist, I understand I may not fully grasp how market dynamics work in a truly (and totally) capitalistic environment.
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Apparently, I don’t write English well today, either. Should read “nor do I” not “nor I don’t”. Not sure what happened there. Lol!
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In short – no
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I believe that it could, yes; certainly better than unrestrained Socialism.
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