Re: Is Capitalism Dieing?Jun 26th, 2009
Capitalism dieing? Did it ever live? probably the closest thing to a capitalist society was Hong Kong, with a flat income tax rate of 15% for those above a certain income bracket at one point (I don't know about now), yet even it had various rules and regulations, and minimal services for the needy.
And of course teh same applies in reverse. The PRC was likely the closest thing to a pure communist state after the cultural revolution, yet even it still had some private enterprise.
Personally, I think neither system could survive in its purest form. The problem is that while capitalism is the best way to produce wealth, that wealth is not always justly distributed owing to the economic hegemony of excessively powerful companies over time, some of which may form conglomerates or monopolies; and while socialism is teh most efficient means of redistributing wealth more evenly, it also unsustainable in its more extreme forms. I think the ideal is a more capitalist-leaning system with a socialist streak, or what some might refer to as social democracy.