Bank of America CEO says capitalism is 'the best way to solve the challenges that are facing society'

[KleinBoontjie]

The poor get the bulk of tax money in SA.

Capitalist doesn't do handouts. They set a price and pay salaries.

 

[porchrat]

Basically the same as unchecked capitalism then.

Not even close. I don't recall ever hearing of a capitalist equivalent of the Great Leap Forward.

Additionally capitalism does not guarantee nor inherently do much for the poor. As we can see that allowed to do so capitalism grows the gap and will even eventually increase the rate of that growth by making the majority poorer.

The gap between the rich and the poor will always grow. The rich have more capital to leverage for greater earnings.

What matters is that everyone overall is still getting more wealthy as the years go by.

 

[porchrat]

I wonder if communism could work if the politicians were honest. You'd also need a way to motivate people to innovate in a system where everyone gets the same (except the politicians) regardless of contribution. And they'd also have to do away with one party dictatorships if it is to have a chance. But I think the biggest issue is that people aren't willing to hand over their creations just to "serve" the state.

Capitalism's problem is unchecked greed and communism's is unchecked political power.

What you've said is basically "I wonder if communism could work if we weren't human".

It's part of human nature to be corrupted by absolute power. It's also part of human nature to want to be rewarded for the extra work you put in. I wouldn't work harder in life if I knew I wasn't going to be rewarded more than the guy who takes it easy. I like my work, but I like it a lot less than quality time with my family and friends.

 

[konfab]

I wonder if communism could work if the politicians were honest. You'd also need a way to motivate people to innovate in a system where everyone gets the same (except the politicians) regardless of contribution. And they'd also have to do away with one party dictatorships if it is to have a chance. But I think the biggest issue is that people aren't willing to hand over their creations just to "serve" the state.

So if you were in charge of the Soviet Union instead of Stalin, you would have done a better job of it?

 

[porchrat]

So if you were in charge of the Soviet Union instead of Stalin, you would have done a better job of it?

I'd like to be able to believe that I would have been a better person. That I wouldn't have murdered so many so brutally. That I would have made the USSR prosperous and free.

Reality is the power probably would have gone to my head too and I'd have ended up a monster just like him and every other communist leader before or since.

 

[konfab]

I'd like to be able to believe that I would have been a better person. That I wouldn't have murdered so many so brutally. That I would have made the USSR prosperous and free.

Reality is the power probably would have gone to my head too and I'd have ended up a monster just like him and every other communist leader before or since.

Reality is that either you would have been a brute like Stalin, or that the guy behind you would stab you if you were not.

 

[nightjar]

The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of Socialism is the equal sharing of miseries.

Winston Churchill, House of Commons, 22 October 1945

 

[Vrotappel]

Capitalist doesn't do handouts. They set a price and pay salaries.

And pay tax at progressive rates.

 

[KleinBoontjie]

And pay tax at progressive rates.

Nomad Capitalist won't

 

[Vrotappel]

Nomad Capitalist won't

Countries allow this to happen via their tax codes and DTAs. Where you can avoid tax legally there is nothing wrong with it.

 

[Moto Guzzi]

Since 1992-EU, Capitalism basicly disappeared/Irrelevant today, instead the owner is highjacked digitally. There are two things flooding us today, pills and sensors.

Every industry had been infiltrated by digital ideologies, leaving the owner helpless and hopeless.
See here:The right to repair, just one aspect with negative consequences to an owner, in this case farmers.

-The old equipment can be easily repaired and can work a 100 years later.
-The digital infested equipment, are at 1st glace Impressive, Perfect, Shiny, Multiple extra functions etc, but become absolete fast, so what do you think of these manufactured today, in just a mere 20 years from now-?
--No spares.
--Sorry Sir, buy new one, your old one a boat anchor now.

The problem with Digital is it never matures ever, it sucks money, like it runs on money.
Seeing Digital is now embedded in the most basic resources like WAter and Electricity, one could consider it a new Basic Resource(Man Made Abstract)...If it was DIRT CHEAP, this would have maybe made some sense, still have to ignore the waist of resources.
-Just Google electronic waist dumping grounds.......

 

[Mekon]

Bank of America CEO says capitalism is 'the best way to solve the challenges that are facing society'

Bank of America CEO Brian Moynihan said Wednesday that capitalism is “the best way to solve the challenges that are facing society.”

www.foxbusiness.com

Malema disagrees

 

[Vorastra]

If my grand kids ask me one day if there were any wars fought during my life time I would tell them "Yes, the great war for hearts and minds"