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.”
I believe we are seeing "supply side economics" coming to frutition. A healthy economy is one that has the decent paying employment, so most people have spending power to keep the wind in the sails. "Capitalism" is a general term, and depending on what side of the fence people are on, it is either good for their wallets or bad. The equation also has in it, in reference to "prosperity". If you ask me if I have "prosperity", I'd have to answer no. Another factor is the luck of the draw. I've worked all of my life, and at best made it from one week to the next. Another person in my position may have "prospered" due to factors like having a spouse who is gainfully employed, and being able to pool their resources to their own goals of "prosperity." Its likened to a card game, some people get the high cards, and people like me are dealt the jokers and deuces.
The core of the problems are government and EPA regulations. If you go back through history, and place all of the great invention and innovation in today's environment, almost all of them would have been shut down by the government over safety, environment, fees, zoning, or some other cockamamie government inhibitor of that which made America great. The little guy has no chance against such a regulated society to bring a product to market. The large corporations have teams of attorneys to handle those concerns. So, the government regulations on one side, and the large corporations on the other with the little guy squeezed in the middle. Sadly, hard work alone will never foster prosperity through entrepreneurism anymore.
No, we have to show them how well it can work. Most all of us alive today really does not know how true capitalism works since we have all been raised thinking bail outs, gov subsidies and cronyism are all part of capitalism when it's not.
I think where the Tea Party made it's biggest mistake is when Occupy Wall Street said it was against crony capitalism they were ignored instead of supporting them on that issue and not on the others. That gave them they idea we were for Crony Capitalism.
I was asked on Quora, - What is the difference between outward orientation and free trade? This is based on the neoclassical theory which deem the 2 concepts interchangeably.
Ray Tapajna • Free trade economics remains the major cause behind our economic and social problems. It isolates the free market for only a few to enjoy with the government married to big money interests making the free enterprise system dysfunctional.
I have no idea what it is meant by "outward orientation and free trade - based on neoclassical theory which deem the 2 concepts interchangeably." As I have said in the past, the process branded as free trade as it is today is not free trade as historically practiced and defined. It actually isolates the Free Market for ony a few to enjoy.
So, here is another way, I will respond to the question:
So called free trade is not trade. It is an economic system set up to divorce production from investments and move production anywhere in the world for the sake of cheaper labor and for more profits for just a few. It isolates the free market for only a few to enjoy too. Powerful elite forces use it as a way to control the flow of wealth and power throughout the world too.
The TV reality show Shark Tank provides and example of the process this way. People come on the show and present their proposals to a group of investors for more money in exchange for a share in their enterprise. More often than not , the potential investors question the cost of production and tell the people they have to reduce the cost of manufacturing by going outside of America to have the product made at a much cheaper cost. Some of the investors mention their connection with big box stores whose business models primarily depend on imports. The investors tell those requesting funds they must do this or else -
One investor likes to say - or you will be crushed like the cockroach you are. The same applies to most business models big and small in the free trade world. Somewhere along the line the process was branded as free trade. But the main commodities being traded are workers who are put on a global trading block to compete with one another for the same jobs down to the lowest levels of wage slave and even child labor. With more than a billion people in the world willing to work for practically nothing to survive, it is indeed a race to the bottom.
Governments enter the picture as brokers and dealers in a global economic arena. This short circuits what world trade is all about. Trade is supposedly about deals with individual entities and not governments.
Governments including international entities get involved for other reasons too. They use the free trade process as a way to control world events. And nations finding their interests spread across the globe find they must use force to protect their interests. This results into a new form of colonialism on a global basis. Wars follow and apparently are part of the process itself. We do not need any conspiracy theories to know free trade economics is driven by powerful forces outside the will of the people who have ulterior motives for their participation in the process. They use free trade as a way to globalize the world into some kind of one size fits all one world government. They apparently want the sovereignty of individual nations to be under a centralized system.
President Obama used the term New World Order at least two times at international money conferences and shows how closely power, money and politics are combined in the free trade economic system on a global scale. With the new super trade bills the details of the process are now openly in the text of these agreements. Instead of asking questions about free trade, someone needs to ask the world financial community what the term New World Order stands for.
And don not ever forget, President Obama had to bail out the process in 2008 by borrowing trillions of dollars from the future. This in effect put tariffs on future generations of workers.
( Advocate for workers dignity, local value added economies and the real free enterprise system
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If they want to live in misery...I lived thru communism and socialism and both equal hell.
Millennials have the right to protest because of capitalism. Who manufactured the signs, paid the police and the media to report their shenanigans?
Millennials! Probably the most ignorant, and lazy generation to come along! However, not all the blame falls on them! The progressive liberal communists along with their parents and, teachers are also to blame!
Millennials should reserve their places in the unemployable lines now.
I suspect what the millennials are rejecting is what we have today, which should really be called cronyism, not capitalism. I've never known true capitalism because America was corrupted before I was born.
I once read (don't remember who said it) that if all the money in the US was divided evenly with every citizen, that within a certain period of time, everything would be back to where it was before the distribution of the money. There are many people who are too stupid to use money wisely.