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Outdoorsman and Hunter
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Discussion Starter · #1 ·
I came across a fantastic article today about capitalism from one of my favorite sources, Mises.org. For anyone that believes that Wall Street is capitalism or that large corporations represent capitalism than you would be wrong and should really read this article. It is one of the best I have ever read on what capitalism really is and what it is not.

http://mises.org/daily/5505/Why-Capitalism-Is-Worth-Defending
 

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And yet, the majority of this board's members reject fiat currency, which by definition represents one of the key tenants of capitalism: deferred consumption.

Bunch of commies! [/kidding]

Great article
 

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Prepared
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Capitalism can't scale with the rules that apply to both big and small. Capitalism for a small business and capitalism for a multi-national/global corporation are two totally different beasts. Capitalism for the rich and capitalism for the poor are different also. Financial institutions reward already-rich capitalists with return on investments, and penalizes the poor capitalist with interest accrued for business loans. The poor can't really afford to be capitalists.
 

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Outdoorsman and Hunter
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Discussion Starter · #4 ·
Capitalism can't scale with the rules that apply to both big and small. Capitalism for a small business and capitalism for a multi-national/global corporation are two totally different beasts. Capitalism for the rich and capitalism for the poor are different also. Financial institutions reward already-rich capitalists with return on investments, and penalizes the poor capitalist with interest accrued for business loans. The poor can't really afford to be capitalists.
Please read the article. I think you are mixing up socialism and capitalism. When Wall Street gets the iron fist of government to block competitors from entering in the business with barrier to entry laws and rewards bad decisions with bail outs this is socialism plain and simple. It is not about rich and poor capitalism. True capitalism would have let Wall Street crash and take their lumps. It would have let the market sort out who was left and who died. Instead socialists government came in and simply paid Wall Street for "being bankers" irregardless if they were "well performing bankers" or not. Kind of like socialism pays people to be "a farmer" vs. being a "good farmer that produces a lot of crops".

Same with big corporations. When they use government power to keep competitors out and special pricing laws to gain monopolies and make people pay a set price for things that is socialism not capitalism. Again, it is not about rich and poor but about who uses government power and who does it on their own.

True free market capitalism rewards risk takers and rewards them when they make good decisions and create value. It punishes those who don't. I don't think too many people will argue that our system over the last several years and the last 3 years in particular has done the exact opposite.
 

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Survivus most anythingus
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Interesting and I agree with a lot of it and vehemently disagree with some of it. Is it possible for someone to write something positive about this topic without devling into the tired old B.S. "class warfare" or "class envy" claims? I think not.
 
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