"Why Has 'Capitalism' Failed?"

By:  Selwyn Duke
08/03/2011
       
"Why Has 'Capitalism' Failed?"

While discussing socialism on a talk show recently, I was confronted with the question: If “capitalism” is so great, why has it failed? Of course, ever since our financial crisis hit, this query has become all too common.

Now, after informing the host that I avoid the word “capitalism” — as it was originated by a communist — and instead prefer “Natural Economy,” I stated the obvious: Blaming our problems on the Natural Economy is like blaming airplane crashes on auto design. After all, there is a reason why Rogers Holdings CEO Jim Rogers said in 2008 that the United States was now “more communist than China.” With thousands of laws, regulations, and mandates and a multitude of bureaucracies that stifle the private sector, our system can hardly be called a Natural Economy. But more on that later. This issue is better illuminated by examining a truth hiding in plain sight.

While discussing socialism on a talk show recently, I was confronted with the question: If “capitalism” is so great, why has it failed? Of course, ever since our financial crisis hit, this query has become all too common.

Now, after informing the host that I avoid the word “capitalism” — as it was originated by a communist — and instead prefer “Natural Economy,” I stated the obvious: Blaming our problems on the Natural Economy is like blaming airplane crashes on auto design. After all, there is a reason why Rogers Holdings CEO Jim Rogers said in 2008 that the United States was now “more communist than China.” With thousands of laws, regulations, and mandates and a multitude of bureaucracies that stifle the private sector, our system can hardly be called a Natural Economy. But more on that later. This issue is better illuminated by examining a truth hiding in plain sight.

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Selwyn Duke (photo)

 

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