We are not in a capitalist economy. We are in a semi socialist monopoly.
Try and make a new car brand. You will have to pay billions just to get passed the initial "I think I'll start this" stage, because they have implemented laws to prevent future competition.
When I say free trade, I mean an open market that allows people to actually engage in it. Rather than be force fed the same crap so only a few can live "the good life".
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Piketty is literally talking about the unequal accrual and perpetuation of capital. I'll give you a hint about the word 'capitalism': it's not called that because rich people have a fondness for big letters.
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I am not saying capitalism is the best root, I am pointing out how it isn't the one currently in play. I do support a free trade however. One where everyone has equal right to business and the pursuit of happiness. The video simply points out the arrogance of a socialist views.
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Edited by Seggi: 4/21/2014 2:22:08 PMYeah, it's not capitalism because well gee I guess there are regulations in the economy! That's socialism, doncha know? Every western economy is characterised by mixed degrees of regulation and private ownership, but the fact of the matter is that private ownership overwhelmingly dominates the markets - even if it didn't and you felt compelled to refer to western economies as socialist despite the practical absence of state owned or controlled capital in just about every sector, [i]the issues being addressed here are fundamentally ones of capitalist characteristics of macroeconomic systems[/i]. If you really feel the need to spout off your detached crap about how socialists just think the state is god (because, you know, their concern there isn't at all the fact that outcomes considered most efficient or important by the market don't always coincide with the best outcomes from the perspective of people [i]not[/i] getting money out of it - it's definitely that they think Lenin could make more money than Wall street) then do it somewhere it's actually relevant, because it sure as shit isn't here.
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Edited by Ricochet049: 4/23/2014 4:34:34 AMI don't think you understand what I was saying, and your butt hairs are tied in such a big knot I don't think you can focus long enough to understand. You have a very strong emotional attachment to the situation. The government steps in when it shouldn't for it's own gain because it is run by individuals who have claims in those private groups you mentioned. They put laws down that prevent people from entering markets because they don't want competition. You could say it's a state run capitalism, but socialist ideas won't make it better. This is what I am talking about. Say we have a car company, they make okay cars that work. Then another company forms and starts making better cars for less, because they are more efficient with their materials. So the first company pays government officials to put down laws and regulations. Or Government officials own part of the market and do it them selves to prevent competition. Not only does this damage economic growth but it also slows down how well technology develops.