Capitalism
This is
one of many Intelligence Squared debates on YouTube. There were some
interesting points made – by those opposing the above motion. To stand up and
declare that ‘Marx was Right’ is exactly analogous to declaring that Paul Ehrlich
was right. PE is the word champion of being wrong about everything. The UK,
according to him would have ceased to exist some thirty years ago.
Industrialised societies should have perished from starvation. He continues to
publish and to be lionised by the bedwetters.
The
debaters were agreed on one thing: Marx admired Capitalism. He thought that it
was but one step on the road to Communism. Communism is, to all intents and
purposes, dead. Marxism, regrettably, survives.
Interestingly,
Marxism defines itself with respect to Capitalism. This is a big mistake.
Capitalism is not an ideology – it cannot have internal contradictions. Free
market apologists did not invent Capitalism. We simply wish to see the state
cease to intervene in normal, natural interactions between human beings. Marx was
wrong about everything. At the time he was writing, predicting that wages would
fall, wages were rising.
When
leftist progressives attack what they call
capitalism, they always get it
wrong. They allege that bail-outs to banks are in some way capitalistic. Bankruptcy is capitalistic. RBS and
Lloyds were bailed out by the f**king government.
Our government took money (looted from us) to cushion gamblers who had made bad
bets. Free market thinkers may have sympathised with those who made mistakes.
Speaking for myself, sympathy is as far as we go. In every business (and I
speak from experience), you make good decisions (which are and deserve to be
rewarded) or you make bad decisions (which are and deserve to be punished). RBS
and Lloyds should have been allowed to take the bankruptcy route – particularly
in view of the fact that our banking system allows banks to create money out of
thin air.
Let’s
hear it for bankruptcy! A business fails; someone else buys the assets and
(maybe) makes it work.
This is not an economic ideology. Leftists simply do not understand free markets.
The big
division is between those who see the world as it is and those who have a
conception of the world as they would like it to be.
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