Various Economic Systems Debate

[Totality 🇺🇦 🇮🇱]

gives the government much more control over these critical and delicate situations which shouldn't be left to the very definition of capitalistic monsters

CLARIFICATION ON MY STANCE OF CAPITALISM:
Capitalism is great and it is the only system throughout history that has shown to truly work. BUT it needs safeguards or checks and balances. Left unchecked runaway capitalism breeds greed, which is why absolute freedom even in the market is bad as the more wealthy will ultimately end up abusing their wealth and abusing the people who work for them if left unchecked.

 

[intel-bank]

CLARIFICATION ON MY STANCE OF CAPITALISM:
Capitalism is great and it is the only system throughout history that has shown to truly work. BUT it needs safeguards or checks and balances. Left unchecked runaway capitalism breeds greed, which is why absolute freedom even in the market is bad as the more wealthy will ultimately end up abusing their wealth and abusing the people who work for them if left unchecked.

Pharoic Egypt was a command economy and it lasted 3k years. Ancient sumer lasted 2k and the government directly controlled a great deal of the economy, although it wasn't entirely a command economy.

It's worth noting that because the USSR was a socialist command economy, not exactly communist. The economy was already being transfered to a free market one prior to the collapse of the soviet union. The sudden change to a completely free market economy lead to a lot of pain and suffering after the collapse and contributed to putins rise to power.

The truth is, mismanagement of whatever economy is really the deciding factor, not the economic type. However, modern day "communism" does not work because it fails to take into account human nature. But capitalism is not the only system that works. Command economies work fine.

 

[Totality 🇺🇦 🇮🇱]

Command economies work fine.

Not into today's modern world. Sure back thousands of years ago worked just fine with simple feudal or peasant life where the word/phrase humans rights didn't exist.

 

[intel-bank]

Pharoic Egypt was a command economy and it lasted 3k years. Ancient sumer lasted 2k and the government directly controlled a great deal of the economy, although it wasn't entirely a command economy.

It's worth noting that because the USSR was a socialist command economy, not exactly communist. The economy was already being transfered to a free market one prior to the collapse of the soviet union. The sudden change to a completely free market economy lead to a lot of pain and suffering after the collapse and contributed to putins rise to power.

The truth is, mismanagement of whatever economy is really the deciding factor, not the economic type. However, modern day "communism" does not work because it fails to take into account human nature. But capitalism is not the only system that works. Command economies work fine.

Also to keep this on topic, ancient sumer loans were would occasionally have loans forgived by the king because otherwise the farmers, who were vital to the system, would not be able to function well.

I say this to say, the banks are not the ones who should be bailed out. The depositors should be, then allowed to choose where they keep their money.

 

[Totality 🇺🇦 🇮🇱]

Command economies work fine.

Not into today's modern world. Sure back thousands of years ago worked just fine with simple feudal or peasant life where the word/phrase humans rights didn't exist.

Not to mention markets and human society changes to quickly. Why capitalism in modern or industrial times has proven to be the best system time and again.

 

[intel-bank]

Not to mention markets and human society changes to quickly. Why capitalism in modern or industrial times has proven to be the best system time and again.

It's barely been proven time and time again, when the rest of the world shuns anything different, it's kind of hard to really know if something different is possible.

I'm not even suggesting either communism or a command economy are better than capitalism or that they should be implemented.

But I believe it's hard to say, when if you are not a capitalist society, you are alienated and prevented from progression by the rest of the world, and also that typically different systems have came from revolutions in the modern world, which I've already said here that revolutions typically lead to worse systems.

But also, how long will it last? Will capitalism really be the best bet when automation really sets in? When jobs are extremely scarce because there's not much a human can do better, and the tech for automation costs less employees? When if you want a job, you have to accept wages well below the cost of living? UBI might work, but suddenly for that to happen you need to end up taxing the people automating things so much that they end up not having much income for progression.

 

[Totality 🇺🇦 🇮🇱]

But also, how long will it last? Will capitalism really be the best bet when automation really sets in? When jobs are extremely scarce because there's not much a human can do better, and the tech for automation costs less employees?

Yes capitalism will still last even in total automation of the work force happens. That's why in the future there will be a thing called universal basic income. But it will still be a capitalistic economy/society. Please watch this video to better understand this or expand your knowledge:

Then after watch this: