RE: Greek Tragedy ( Capitalism in crisis....again! )
June 29, 2011 at 5:17 pm
(This post was last modified: June 29, 2011 at 5:24 pm by reverendjeremiah.)
Modern Capitalism (the Americanized version) = Privatise the profits and socialise the losses.
Right, because cut throat capitalism, the same kind of capitalism that libertarians push, would actually care about the victims? That those who seek profit only for the sake of profit would actually turn the debt around into infrastructure instead of cooking the books, grabbing the cash and running? Greece very much is a capitalist system. In fact they are a mixed economy. What is it about Libertarians that they think that if they loosen the restraints on the market that suddenly everything will become benevolent and self efficient?
(June 24, 2011 at 10:21 pm)theVOID Wrote: If Greece were a capitalist nation the debt incurred would have been allocated via market signals, such as supply and demand, productivity, profit and price to industries which could have used the debt to invest in infrastructure that would create more wealth than it took in - That is quite plainly not what happened in Greece.
Right, because cut throat capitalism, the same kind of capitalism that libertarians push, would actually care about the victims? That those who seek profit only for the sake of profit would actually turn the debt around into infrastructure instead of cooking the books, grabbing the cash and running? Greece very much is a capitalist system. In fact they are a mixed economy. What is it about Libertarians that they think that if they loosen the restraints on the market that suddenly everything will become benevolent and self efficient?
