"Why Has 'Capitalism' Failed?"

By Selwyn Duke

While discussing socialism on a talk show recently, I was confronted with the question: If “capitalism” is so great, why has it failed? Of course, ever since our financial crisis hit, this query has become all too common.

Now, after informing the host that I avoid the word “capitalism” — as it was originated by a communist — and instead prefer “Natural Economy,” I stated the obvious: Blaming our problems on the Natural Economy is like blaming airplane crashes on auto design. After all, there is a reason why Rogers Holdings CEO Jim Rogers said in 2008 that the United States was now “more communist than China.” With thousands of laws, regulations, and mandates and a multitude of bureaucracies that stifle the private sector, our system can hardly be called a Natural Economy. But more on that later. This issue is better illuminated by examining a truth hiding in plain sight.

I have a little exercise for those who find the siren of socialism suddenly seductive.

Read the rest here.

Comments

[Robert Berger]

America is now "more communist than China ? Oh come on now.This statement is beyond idiotic. America is no more communist than the Pope is pro-choice, Mahnoud Ahmedinijad
is pro-Israel and a Jew, Fred Phelps is gay rights activist , and I am Santa Claus..
How can any one be stupid enough to make such a stupefyingly ludicrous claim ?
Conservatives today don't even know what communism actually is. Or socialism and Marxism. They just use these terms indiscriminately to describe any one who disagrees even slightly with their right-wing extremist views.
And as Selwyn Duke is stupid enough to be a member of the ridiculous and long-discredited John Birch society, which is still paranoid about he non-existent threat of communism coming to America, how can you take anything he writes seriously ?
Yes, capitalism is the best economic system, but not the bad form of capitalism which so many conservatives want in America today. The brutal laissez-faire, dog eat dog,every man for himself kind where there is no safety net for the unfortunate and if you're down on you're luck,you're screwed. This is no better than communism.