Yoshie Furuhashi wrote:
>>Gosh, I don't know how capitalism has survived all these centuries,
>>eliminating all rival systems, if the capitalists can't do anything
>>right.
>>
>>I think capitalism's critics and enemies will have to do a lot
>>better than come up with single examples of bad decisions. This is
>>the corollary of Hayek's critique of planning: having spotted a
>>problem, you conclude the malady is fatal.
>>
>>Doug
>
>You also wrote a while ago:
>>Someone with an income of $25,000 is richer than 98% of the world's
>>population; even the bottom decile of USers have incomes higher
>>than 2/3 of the world's population.
>
>Sounds like a fatal defect, from the point of view that deplores
>relative deprivation & resource use inequality. This problem has
>not proven fatal in the real world, but that's because the other
>side (= those who don't find this to be a problem) has won military
>and publicity campaigns.
I'm a bit mystified by this. Capitalism creates poverty alongside
wealth; polarization is one of its distinguishing characteristics.
Every Marxist schoolchild knows this. That's a completely different
issue from whether the system can reproduce and expand itself
economically, which it has managed to do for centuries, despite all
the good reasons why it shouldn't. A social/political/moral critique
is a completely different ball of wax from an "economic"/technical
one.
Doug
