General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBiden: Capitalism without competition is not capitalism. It's exploitation.
https://www.threads.net/@potus/post/C4075xIt8KF/?xmt=AQGzYuAJ-RipdhMmpQ8fI70UX8zUYkj6w5V6k6pZc8VJTgFair competition is the key to my economic vision to build an economy from the middle out and the bottom up not the top down.
And its working.
Biden
Hermit-The-Prog
(33,560 posts)elleng
(131,398 posts)aggiesal
(8,960 posts)It drives my conservative capitalists nuts.
A friend works in the mortgage industry and complains about all the regulations since the mortgage meltdown in 2008.
I responded with "... all the protections since the mortgage meltdown in 2008."?
Jaw drop
elleng
(131,398 posts)I'm a retired Fed govt lawyer, worked @ Interstate Commerce Commission 20+ years, FIRST U.S. regulatory agency!!!
aggiesal
(8,960 posts)But Regulations have a negative feel, while protections have a positive feel.
I do the same when anyone mention "Privatization", I substitute with "Profitization".
elleng
(131,398 posts)BComplex
(8,092 posts)Can't be said enough times!
Yavin4
(35,455 posts)Nor does it even mean a middle class. These are constructs of social democracy which seeks to tame capitalism.
Capitalism is simply the means of production are held in private hands for the expressed intent of increasing capital to the capital holding class.
applegrove
(118,920 posts)The whole thing is a construct. Especially money that allows for markets. Even bartering is a human construct. Two people have to agree.
llmart
(15,569 posts)Biden's phrasing reaches those that need to hear it and in a way where they are more likely to understand his policies . Your way of explaining it would fly over most people's heads.
I approve of Biden's message.
applegrove
(118,920 posts)I was pointing out his dilution of Biden's message with the human construct thing could also be so diluted. I posted the OP because I so think Biden's words ring true.
KPN
(15,678 posts)we've had a mixed capitalist economy for much of our history --especially since the Great Depression -- in which both markets and the government play major roles. Competition may not be a requirement of laissez-faire capitalism, but its definitely a key feature of our mixed capitalist system.
Silent3
(15,441 posts)
with the zealots overemphasizing an imagined near-magical power of the invisible hand of the free market.
You certainly cant have much of a market economy without competition. And even if not strictly technically correct, I think its fair to say that all across the political spectrum when capitalism is mentioned a market economy is an assumed component of that.
Yavin4
(35,455 posts)Since Reagan, our mixed economy has been heavily tilted towards the interests of the capital holding class.
Sooner or later, the tiger gonna tiger.
DontBelieveEastisEas
(517 posts)Capitalism includes concepts of consumption.
And it is not based on the intent of increasing capital to the holding class.
Yavin4
(35,455 posts)then what is the intent? The one true purpose of acquiring capital is to increase your capital. That's what gives you power.
DontBelieveEastisEas
(517 posts)My purpose of acquiring capital, has been to trade it for things I wanted: not to increase my capital.
Yavin4
(35,455 posts)Innovation, trade, etc. are only for the purpose of increasing capital. In fact, most innovation does not come from the capitalist class. Most innovation comes from academic research and govt sponsored projects. The internet began as a defense project. Pharma drugs come from govt studies.
Capitalists only care about innovation when it can increase their capital.
limbicnuminousity
(1,407 posts)Competition is irrelevant when the competitors conspire to fix prices. The illusion of competition and the false promise of regulation mean nothing as long as Citizens United remains in place.
Modern day captains of industry and cash-hungry shareholders aren't going to stop raiding your bank account until we've returned to the days of the gold standard and indentured servitude. Eat the rich.
modrepub
(3,505 posts)Without addressing Big Business.
erronis
(15,469 posts)You are a good President for the people.
AllaN01Bear
(18,807 posts)what our prez said , i second that.
elleng
(131,398 posts)Wounded Bear
(58,791 posts)Since the goal of every corporation is 100% market share, capitalism leads to monopoly, and monopoly with unlimited access to power leads to the fascisitic marriage of business and government.
Regulation is necessary to protect democratic institutions.