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originally posted in:Secular Sevens
9/28/2013 7:05:54 PM
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Capitalism doesn't = "doesn't want to help the sick and needy". We just believe in charity, and that helping the poor should be done voluntarily, instead of thru govt coercion. That's why philosophically morality is important, if not essential, in a free society. The price of liberty is vigilance and being virtuous, and learning to take responsibility of our community ourselves. Not to mention money in in the hands of the person who earned it, will usually spend it more wisely and efficiently than some third party elitists like the govt. The economy will boom as well if we take off all the shackles and regulations restraining it.
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  • What on earth does capitalism have to do with freedom? I should think worker autonomy/worker control of the means of production (as well as autonomy in every area of one's life), as well as political equality, is far more freeing.

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  • Capitalism is an economic model which relies on the basis that the best way for humans to thrive is in an environment where we achieve as individuals and not as a whole. I think we need a new economic model with a new currency that is directly related to production, a logical currency would be calories, believe it or not.

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  • Edited by cxkxr: 9/28/2013 8:06:19 PM
    I can't think of anything better than gold. But that idea is impractical today bc the govts and banks of the world have hoarded all of it in to their vaults. The idea of using gold coins as legal tender is badass imo. Like, imagine carrying around a bag of gold & silver coins instead of these fiat bank notes like the old days. Like piarates :P Gold is a real stable currency, is why I really like it tho. We'd still use paper, but it'll be backed by the gold standard.

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  • Edited by Y SO REACH BETA: 9/28/2013 8:05:47 PM
    Calories are the perfect thing to measure the labor it takes to attain something. It is perfect for a currency and it cannot be inflated because the total amount of calories in an economy will be the amount of calories that exist in production and materials.

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  • Labour output > calories. Go socialism!

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  • Edited by cxkxr: 9/28/2013 8:10:44 PM
    That actually sounds legit. but I think it'll cause problems in terms of sufficient price adjusting tho. And calculating it would be an inconvenience.

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  • Edited by Y SO REACH BETA: 9/28/2013 8:26:14 PM
    Also, this may not work yet, in 100 years we could just have computer calculating this with 100% accuracy. I fully believe this is the best economy for the future. It is also universal in terminology so this could even be an economic practice that transcends species.

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  • It's a very ideal hypothesis I must admit.

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  • The calculation of it could be an issue but it is simply calculation of expenditure of calories and industrial potential of calories for the resources we mine. So we may pend 1 cal per 34 for oil. This system is actually incredibly good and identifying high efficiency industries and practices. So the mass of iron ore can be calculated to equal the average machine energy value. It takes a bit more effort but it actually serves a purpose unlike stock brokerage and other finance jobs.

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  • Completely eliminating regulations could actually harm the economy far more than you think. One area that would be significantly disrupted would be capital markets and financial reporting. Regulation plays a very strong role in protecting investors and ensuring a reasonable amount of reliability and comparability for financial reporting. In the US, the SEC has the authority to set and enforce the rules for financial reporting. In practice, the standards are developed by accounting bodies like the FASB, but the SEC enforces compliance. Eliminating this would make capital markets essentially unreliable. Without an enforced set of reporting standards (US GAAP and IFRS), individual companies would be free to use whatever "creative accounting" they want, which could range from aggressive revenue recognition to outright fraud. Any firm I could buy stocks or bonds in could potentially be an Enron. Add in the fact that there would be no legal recourse for any firm that defrauded investors, and investors simply wouldn't invest. In this scenario, capitalism would fall apart, and is precisely the reason why governments, accounting bodies, and investors worked together to develop this sort of regulation in the first place.

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  • Stock exchanges where shares are held and traded (Nasdaq as an example) are private companies. Whose to say they would not impose their own set of rules similar to GAAP in order to allow trading and enforce? Just a thought.

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  • I believe there should be some regulation, I'm not an anarcho-capitalist. Sorry you wasted your time.

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  • Deregulation always results in disaster or abuse.

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  • Edited by cxkxr: 9/28/2013 7:17:08 PM
    It's when there's [i]too[/i] much regulation and socioeconomic control in the hands of a few, is there abuse and disaster. Capitalism worked out just fine(even better) before we had the income tax, and a welfare state, and socialized healthcare. Prior to 1913 we still had roads, bridges, schools, hospitals, an army and a navy(who managed to win 8 wars btw).

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  • Implying the economic situation pre-1913 is even comparable to the one of modern times. In case you didn't realise, government regulation did not cause the depression in the 20s. And the existence of services does not provide an economic evaluation of the people. Also, the presidents of around that time would've been considered incredibly liberal by today's standards. Roosevelt wanted to punish corporations who operated simply for profit. Republics were incredibly progressive back then.

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