In view of the worsening global economic crisis, is capitalism a failure?

Thursday 11th December, 02:00 AM JST

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apecNetworks at 05:20 PM JST - 11th December

No, the present economic problems have not been exposed at this point in time. The scale is much larger than presently known, and Pres. elect Obama has even stated so to the media. The problem has been explored by recent books by Prof. Chalmers Johnson and has more to do w/ the funding of a massive military/industrial complex. My posts on this topic is very sensitive to US Agency personnel, so I am receiving confirmations on my posts. This is not about Capitalism, but was exhibited by the former Soviet Union in the late 1980's - geopolitical extension.
ReexJax at 05:27 PM JST - 11th December

How is the government taking over companies, baling them out, and propping them up Capitalism? Let the companies fail, free market wins in the end.
Athletes at 06:33 PM JST - 11th December

Capitalism is not perfect however it is better than Socialism. When the cold war has ended, Ronald Regan introduced the his popular "Reganomic Economic Theory". According the Reganomic, government is problem for free market & free enterprise. Market has own magic & not need to interfere. Let's the God manage the financial market & capital movements. Prosperity will fall from sky. Therefore, he started deregulations. During his term USA started becoming a debtor instead of creditor nation.Bush followed Regan legacy. He said Reganomic likes a bible and needed to be worshipped.

Sadly it was a fairy tale & not realistic. Market has dishonesty, manipulation & rumours. Sub prime morgage crisis was a result of reckless lending & some politics.

Triple A rated loans become default and may never recover.Colletral Obligaion of Debt was just a slogan on the white paper. The funadamental structure of financial system has collapsed.USA becomes a semi socialist nation & bailing out the failed banks.

Combining 70% of capitalism and 30% of socialiim is better than 100% capitalism. Canada & Australia has universal healthcare & government subsidy for medicine & housing. They are partly socialist nations.
floyd_43 at 11:44 PM JST - 11th December

Unbridled capitalism is a failure just like unbrilded socialism was a failure.
bamboohat at 08:37 AM JST - 12th December

Capitalism cannot fail as it is the best model that mimics true human nature. You get to eat what you kill. If you don't have the skills to kill, then you shouldn't eat. If you can't make money, you shouldn't spend. It isn't capitalism that is failing, it is the idea of people getting things, borrowing money for them, without any real plan for paying for them. And these people are not capitalists, nor are they operating from a capitalist model. They are operating from a "I want so give me" model. Wanna know why capitalism rocks and will NEVER FAIL? Because amid this crisis, there are people getting rich, and who are they? Why the capitalists of course.
bamboohat at 08:39 AM JST - 12th December

Capitalism can only fail if you assume it's goal is to help all the lazy people that don't want to or can't work. That is not the goal of capitalism. The goal of capitalism is to provide a framework in which people that want to get ahead, can get ahead. As long as people are getting ahead, that is proof that capitalism will alwasy be the preferred method. Unbridled capitalism leads to the possibility of unbridled success. Rock on.
Athletes at 09:34 AM JST - 12th December

The nature of capitalism was a movement of capital. Many people wants higher return for their savings. Higher return means higher risks too. Now a days most of the wall street kids and investment bankers are young, immature & unwise. Mostly they are just sweet talkers and do not understand the new financial products by themselves.

Bankers wants higher return on top of their salary. They do not care other people will become beggars. Short selling practice is a forcing the target stock become almost worthless. The other meaning is speculation with rumour for this company is going to broke soon. It was a cruel nature of extreme capitalism. Some will get rich with other people savings. Some will suffer.

Some investors are also so navie and dependent on this lazy and opportunistic people. Most of the profits were paper profits and evaporated when the market crunched. Many eldely lost their life time saving. Market is loosely regulated and lack the transparency.

When the things were going well, financial wizards took the credit for their wisdom & risk taking principles. When the things are out of control, they can do nothing. They just took their bonus & termination package with smiles. US congress bailout for failed institutions were walfare for rich and incompetent people.

If the small business got broke, he or she can not expect the handouts & liquidation of assets is a only answer. Why can not treat the large organization for same principle? Strong will survive. Weak will die. It is a way of real and true capitalism. Uncomfortable truth is US is no longer capitalist. It is becoming semi socialist nation.
HeathenCabin at 09:55 AM JST - 12th December

Capitalism never failed. Government central planning is what has failed, like it always does.
Betting at 12:03 PM JST - 12th December

I don't think capitalism has failed, humans made it fail with lack of common sense, greed, lack morals etc, the same as what happened to communism.
30061015 at 03:24 PM JST - 12th December

Is freedom a falure?
ptolemy at 04:41 PM JST - 12th December

Of course, everyone knows a crisis much smaller than the Great Depression spells the end of capitalism.
Nippon5 at 12:32 AM JST - 13th December

if it wasnt for the negative aspect of the news would we even read it. The sky is falling the sky is falling, its becoming the song of all the news sites,hoping they will get the readers to argue points that dont matter. The only faliure in the world thats 100% confirmed is the news outlets. THey have failed to show even sides for the good and bad in the quest to get readers.
ca1ic0cat at 03:01 AM JST - 13th December

There have been a lot of good posts here and not one that I would disagree with. I really can't add anything. Nicely said.
rajakumar at 03:16 AM JST - 13th December

Capitalism failures 2008 and global economic slowdowns have fully logical reasons. Capitalism means money/currency unit use. The currencies units is not the problem. The crisis problems comes from failure to practise good fiscal discipline. Currency usage in capitalism is not problem .

Human weakness in incorrect usage of currency is the failure.

How much was the annual Global GDP in 1900 and how much, is it today,around 60,000 to 70,000 billion USD.

How much more money is there to create, there is definitely more. The failure is the incorrect usage by humans that has lead to a failure in the systems.

Incorrect usage is the failure,this is not controllable because all of us are given freedom to use currencies to practise incorrect usage.

Freedom is failure. Abuse of it for incorrect use is there.

Certain kind of freedom is not heaven's blessings or heaven mercies. The question should be is heaven a place on earth or heaven is not a place on earth. World has miseries and happiness,this is the duality of life.

Rich times and not so rich times. We can get by,neccessity is the mother of inventions and solutions.
rurika at 04:20 AM JST - 13th December

Capitalism used to have a 'trickle-down' effect on society where eventually everyone would benefit from it.

Now due to globalization these days are gone. The super-rich are getting richer and everyone else is getting poorer.
We have witnessed unprecedented levels of greed, selfishness and lack of social conscience in the banking sector. There is a need for safeguards and government intervention to prevent this from happening in the future.