There is a big difference between Capitalism and Free Market Enterprise.
Here what our first Republican President and American Hero Abraham Lincoln said about this issue:
'Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.'
To me that means that the workers, meaning WE THE PEOPLE, who get up everyday and go make an honest living who do all the labor. Does anyone really believe some investor or CEO on Wall Street labors? Do you believe they got there honestly? Did Bill Gates get rich honestly?
Capitalism means capital which is the property, machinery, the cars/trucks, the technology that makes the economy work. Who makes all these things? The capitalists or the those who labor? A hammer doesn't just appear out of nowhere. The machinery that helps make the hammer just doesn't appear out of nowhere. Someone had to labor to put up the factory, make and install the machinery, and and give us the end product the hammer.
Don't listen to the Chicago School of Economics Milton Friedman and others who preach the 'virtues of capitalism'. What they don't tell you is if it weren't for labor no one would get a thing and the rich would never become rich. Insanely rich just like the headline in this story mentions. The profit motive (Milton Friedman's god) is all that matters no matter the consequences and damn labor and the rest of public.
From 1st Timothy 6:10 of the Holy Bible:
"For the love of money is a root of all kinds of evil"
I still can't wrap my head around how those who claim to follow Jesus worship money.
PS. Call me a communist all you want. But making sure Capitalist are kept under control via government laws and reasonable regulations guarantees that there is a true free market enterprise system.
FYI: this post inspired this rant https://greatawakening.win/p/19A1QIRJAn/where-there-is-a-profit-motive-t/c/
You say you want government laws and legislation, regulation to curtail "capitalism" from going too far to exploit the labour...
But the catch is - we've had a good 100 years of that, and the only thing government regulations have done is harm the labourer and the consumer more in favour of providing kickbacks and subsidies to biggest companies, as the executives and politicians are all good friends
More government hurts free markets
Look at the UK and especially here in Australia - new businesses struggle to take off. We barely make anything anymore. We sell our exports for cheap only to buy the same goods from other countries at a considerable markup - all because of rules and regulations. Now in a resource-rich country where people should be prospering here, the people are bombarded daily with reminders of how we're in a cost-of-living crisis for over 3 years, and every government action since then has worsened livelihoods for the people and killed more businesses. This country is being kept on life support from domestic+foreign real-estate speculation
No we haven't had 100 years of that. If you read my comment/post you'd see I mentioned the Chicago School and Milton Friedman. What we are living under what started in the 1970s and was given full force by Ronald Reagan. Trickle-down and financialization is what happened and all our jobs were shipped elsewhere so they could pay someone 50 cents a day.
You need to rethink your ideology and as I mentioned don't be brainwashed by Friedman and others. They spew a good line, but it is all lies.
Sure. But please tell me what your solution really should be?
You wanted more regulations? I've shown you examples of countries that have followed that advice, and the people are pissed off and even more powerless.
I didn't say I wanted more regulation. I said reasonable regulations. As you know or might not most regulations are written by big business to keep out competitors. Now if that is true,and I believe it is, is that 'free market enterprise' or a rigged system sorta like fascism?
You make very interesting points. Yes, it does sound like you are spouting communism, but you are NOT. Some will get on here and bash you anyway because they didn't digest your train of thought. I find it refreshing that someone has taken the initiative to do some critical thinking and put pen to paper with those ideas. Thanks for the enlightenment. It is almost akin as to what came first, the chicken or the egg.
TY. I'm certainly not a communist because I believe in private property. I'm just sick and tired of America being sold out to this international clique of super rich bastards who think they run and own everything.
Huh? I'm not quite sure what you mean? But if I think what you saying is it is actually the opposite. Everything is subordinate to We The People who are supposed to run and own the Republic not the other way around.
Kinda
I always refer people back to Adam Smith and the Austrian school
But if you really want to go down that particular rabbit hole which I always encourage people to flesh out their ideas
You want to read a book from the early 70s called small is beautiful
You will enjoy it