The Case Against Capitalism

Welcome to your first history lesson:

the Hoover interventions include: expanded public works( ever heard of Hoover dam), greater government control over agriculture, the Smoot-Hawley tariff, a virtual end to immigration, government loans for construction and other businesses ... Most important was Hoover’s pressuring businesses to not cut wages even as the prices of their output fell. The result was higher real wages, which were responsible for the unemployment rate topping out at 25 percent, causing the greatest human toll of the Great Depression. [1]
Hoover, much like FDR, was skeptical about free markets. [2]
We didn't admit it at the time, but practically the whole New Deal was extrapolated from programs that Hoover started.

Rexford Guy Tugwell, Roosevelt Advisor

Hoover

 

indeed, and Great Depression was prolonged 12 into a world war that killed 60 million when capitalism would have ended it in a year and avoided a world war that killed 60 million.

 

What else was there for Roosevelt to do but try to help alleviate the Depression? The stock market crashed after people lost faith in it. The markets had time to correct itself, but instead uneployment kept jumping way up! You are trying to make the spin that since government intervened, unemployment didn't disappear overnight, so government failed. The fact is since government intervened, unemployment began to finally go down. Also, the more they took over, the lower the unemployment rate.

Government intervention didn't just occur in America either. Other governments intervened to help alleviate the harms of a massive economic downturn.

 

Everything you listed had very little impact, positive or negative, on the economy. For example, the Smoot-Hawley tariff impacted a very very small percentage of the GDP. Moreover, America was not the only country to adopt tariffs at that time. Another example is your listing of the Hoover Dam. The Hoover Dam employed over 20,000 people during the Depression, which is good. However, FDR's public work deals employed millions. Not really an argument against government imo.

So, I guess we can see the difference between the government doing favors on a small versus large scale for the economy during a depression.

 

yes, we saw it in the USSR and Red China and in FDR prolonging the depression for 16 years to include and cause a world war. Only a liberal could defend the USSR and a use the Great Depression as a time of economic progress!! Totally backwards, brainwashed, anti-science but perfectly liberal.


"We didn't admit it at the time, but practically the whole New Deal was extrapolated from programs that Hoover started."

Rexford Guy Tugwell, Roosevelt Advisor

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it would have ended in a year and avoided world war if he had used capitalism to end it!!!

 

The entire subject is entirely over your head. Bernanke just prevented another Great Depression using lessons he and Milton Friedman learned from the Great Depression. During the Depression the the Fed let the money supply shrink by 34%. This is what caused the huge unemployment and business collapse. Bernanke did not let that happen again. Again, you are no where near ready to participate here. Sorry.

 

Capitalism would have ended the Depression in a year? I'd sure like to know how.

Everyone went all personal property and pulled their own money out the banks causing Capitalism to crash into a depression*. The government had to create certain laws that would force people to keep a certain amount of money in the bank to keep capitalism from crashing in such spectacular fashion again.

*Who would've thunk it. An economic system crashing because of the exercise of its own principles.

 

The entire subject is entirely over your head. Bernanke just prevented another Great Depression using lessons he and Milton Friedman learned from the Great Depression. During the Depression the the Fed let the money supply shrink by 34%. This is what caused the huge unemployment and business collapse. Bernanke did not let that happen again. Again, you are no where near ready to participate here. Sorry.

 

Speak for yourself. Government had to once again intervene to keep major too big to fails from taking the global economy over the cliff. You want to pretend speculation in the oil industry and predatory lending in the housing market didn't happen? Holy crap.

 

as I said the govt let the money supply slip by 34%. Now you know the cause of the Great Depression and you know how Bernanke prevented another Depression. And perhaps you understand how FDR and Obama prevented recovery with moronic soviet interventions.

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oh it happened but as a direct result of govt soviet stimulus to housing market

 

FDR saw the fastest economic growth in 20th century America.

 

who knew the Great Depression and World War 11 were good for growth!! Thanks for informing me. Odd isn't it that a liberal needs to turn the USSR and Great Depression into times of great economic prosperity. 100% anti-science, anti- reason. Don't let that bother you though.

 

The spin is very desperate. Stimulus in the housing market is great! Things like predatory lending, speculation, and betting against the market are not. Also remember it was the arch capitalist who begged to be bailed out because blahblahblah.

 

yes until the soviet intervention stimulus in the housing market almost caused a world wide depression.

the soviets stimulated every industry and got the same results in every industry we got in the housing industry. Do you understand now?

 

Nothing to say about predatory lending, market speculation, betting against the market, greed, etc. hanh?

 

not really, every seller could be defined as predatory. As long as a person is free to say no there is no problem. Imagine if we had lib Nazi govt looking at every transaction to decide what was predatory on assumption we are too stupid know ourselves?

 

Capitalism won the war as you point out. Knutson was hired to do the job.

 

Make your case as I have. All you have is bumper sticker material. The real predators worked at Fannie and Freddie.

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That's absurd.

 

With command economics.

 

danielbackward's feels that since our Constitution featured limited govt it would be hypocritical not to go all the way and have totalitarian govt. 1+1=3

 

I believe I was the one countered with bumper sticker material. There really isn't much propaganda material for those who wish to critique capitalism as it has turned into some sort of religious figure; some sort of untouchable topic. E.g., can't critique capitalism and if you do you're a Bolshevik. I explained in many ways why we should diminish its use and come up with an alternative system, but I received the standard propaganda lines in return. I summarized my case and gave capitalism the kudos it deserves. It is just in sum, I believe people should be able to come up with another system that addresses markets, people, regions that aren't profitable, that has the ability to be efficient without being wasteful, and that doesn't require constant government micromanagement.

 

dear; you simply don't understand the concepts. we had a "command economy" during the war. When it really matters, it is socialism, not capitalism that has to "save the day".

 

so since we had a command economy is WW2 we should have one in peace too even when it starved 120 million to death in USSR Red China East Germany and 132 others, and was the greatest tragedy in human history??

 

History shows that the globe has moved unequivocally toward Capitalism. Any degradation of free market capitalism by any form of command/control produces negative effects.

 

dear, i keep telling you that was just lousy management. socialism now even provides the least wealthy with steak and lobster on their EBT cards.