Acting Asst. Sec. Susan Thornton and EAP team en route to her nomination hearing before the Senate Foreign Relations Committee!
America is great in part because of capitalism. However, the Millennials reject the free enterprise system but offer nothing in it's place. Therefore, the government will fill that void. Do you agree?
From The Washington Post:
In an apparent rejection of the basic principles of the U.S. economy, a new poll shows that most young people do not support capitalism.
The Harvard University survey, which polled young adults between ages 18 and 29, found that 51 percent of respondents do not support capitalism. Just 42 percent said they support it.
It isn’t clear that the young people in the poll would prefer some alternative system, though. Just 33 percent said they supported socialism. The survey had a margin of error of 2.4 percentage points.
The survey, however, is misleading. The United States economy is not capitalist in the true sense of the word.
Instead, it is a crony capitalist economic system dominated by large multinational corporations that buy politicians, establish monopolies, and rely on state intervention to eliminate competitors and gain special privileges in regard to regulation and taxation.
It may also be viewed as a corporatist system, a partnership between private corporations and the state. The father of modern fascism, Benito Mussolini, described fascism as a corporatist system.
True capitalism is based on laissez-faire economics, a free market, private enterprise and, contrary to the system in place today, a strict separation of state and business.
“A purely capitalist economy ought to have the following characteristics: private ownership of the means of production and capital; low levels of taxation and regulation; competition unfettered by subsidies, bailouts, and protectionism; and the free flow of goods, services, and capital both domestically and internationally,” writes Marian L. Tupy. “Lastly, and here the government does have a crucial role to play, a capitalist economy ought to have an independent and efficacious judiciary that protects life, liberty, and property, and punishes fraud and theft.”
Everyone wants to be wealthy but very few want to assume the risks that go with it.
Therefore, the Millennials think they have come up with the perfect solution: Redistribute the wealth of the rich thereby making everyone wealthy.
However, it will not be the wealth that is redistributed but the poverty.
Socialism is the redistribution of poverty and nothing more!
AMEN and they have been so brainwashed they do not see it.
Yes, I ounce was young and gullible (AKA Stupid) but I grow up, hopefully Millennials will too. Frankly, I'm surprised we have 42 percent favorable of capitalism. Unless these Miils are going to government service they are going to have to get a job with one of these terrible capitalist. Any wrongs with capitalism can't be resolved by the government but by capitalism from the inside driven by public opinion. Capitalism ranks low on Americans concerns, lets move on.
I'd say the majority of millennials are uneducated and don't know what their talking about. Hell no I don't agree. They've been brainwashed the last 8 years by the Obama anti-American establishment. Just like the devil can entice you into doing things that are good for you so he gets you in his trap and KILLS you!
Millennials do not know what capitalism is. Jesse Watters interviewed college students and he asked someone with a business administration degree if she knew what capitalism was, she did not. That is the problem. This society is so twisted, that these kids won't know what it is until it is gone ! Its too bad we have to waste votes on them !
American Capitalism, in its pure form, is the only economy that allows the American Dream. When it is corrupted by unscrupulous politicians and corporate pirates you end up with what we have today. Next time around, we have to place some safeguards. A Great place to begin would to disallow insider trading by Congressmen.
Socialism and Communism lead to poverty. If that's what you like, there are already a bunch of North Korea's you can move to.
Thank you for saying it so accurately Eric Sr. The American dream is in theory attainable for "all people" at least willing to get up and "run their own race" so to speak. We now look at the dc regime, headed by their dictator oblamea! What that means for people like us is that the dc regime is looking at all ways of keeping us from our goals in life. As in "you didn't build that", some Indonesian fraud con man puppet says so, just to further frustrate us on our efforts to attain the "American Dream."
There really is not only one definition for Capitalism. When it goes bad, they call it Raw Capitalism and it is difficult to bring it back to a stage where the common good for all in society can benefit. We should be able to figure out many ways to develop the free enterprise system in many ways where something like this does not happen.
I grew up in a small family business and at age 15 or so, I knew about gross profit , net profit and operations costs. I found the two major problems were government and consumer expectations. There is human nature. A close friend says it is only human nature to seek the lowest price without being concerned how the prices were arrived at. Every product leaves a trail right back to our own front door. Free trade economics ignores this and seeks out the lowest price no matter what the consequences are up and down the line.
As a young teenager, I found that a small business could best any larger business if there was fair trade without manipulations. There are laws on the books for fair trade but I really never saw these laws enforced. In larger operations, the manipulation of values grows and grows. I experienced larger businesses with sufficient capital who sold under costs to capture market share. Once they capture a sufficient share and have taken out competitors, they have a better hold on the market to keep competitors out while raising markups at a good profit. They spend tons of money on branding and advertising. Other companies just make something to grow the value of their stock. The manipulations are endless.
We now essentially have State Capitalism especially after Pres Obama had to bail out free trade economics by borrowing trillions of dollars from the future. In effect, we now are all wards of the State. It is a strange mix of Socialism and Capitalism with the State governing the flow of things. The worst scenario is when it becomes an endless ponzi scheme needing more and more bail outs.
Socialism never works because it is based on the State in full control of the process. The State is not a person and bureaucracy rules. In places like Sweden, they have a money ruling class in competitive with the bureaucracy trying and trying to sort out the built in conflict. Most of the nations tending towards Socialism do not makes much sense. They have a value added tax of 28 percent on most every purchase. The bureaucracy makes more than the business owner. Actually, we may have more socialism in our country than they have in places like Sweden.
No matter where you live in the world something is very wrong when about 80 per of startups fail within the first three years. We call out for human rights in everything else but let businesses to fend for themselves in all kinds of devious manipulations. A lost leader economy controls most everything where things are sold a cost of under costs to attract a mass volume so that somewhere in the mix, the business can make a big profit to balance everything out. It is a version of the old saying you can fool some of the people most of the time.
The free enterprise system is a simple process. You make or grow something and add a mark up to each individual product. But then again, here comes human nature who wants something at the cheapest prices no matter how the price is arrived at. Business have to come up gimmicks to survive.
Our business school do not even get into things like this. They start explaining the process after the fact before the fact. The old saying plays out. You get what you pay for. Now we have a massive new working poor class that no longer can even afford the cheaper imports. We can not bail out systems like this forever. Free trade economics failed. It has been bailed out. Still our leaders call for more of the same.
In sports, we have umpires and referees to keep things in order. In the business world we have no one to keep things in order.
Today, shoppers vote more in the check out line than they do in the voting booth on what kind of society they want to live in. In the end, you can not have your cake and eat it at the same time.
What do Millennials know anyway? Have they experience redistribution of wealth? Or capitalism for that matter? Somehow a bunch of redistribution Millennials need to be put in a reality situation of redistribution of wealth and see how they work it out. They just don't know what they are talking about. They are surmising what they believe would be a better way...without experience.