Comment: Capitalism

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In reply to comment: Is Fractional Banking Capitalism? (see in situ)


I understand your point and the reason for making it. Capitalism defined is very broad, just like Communism too has many interpretations. Mine is not misguided. It is my interpretation and experience. Obama's interpretation is different. Putin's is different. Ron Paul's is different etc.

I view Capitalism in the way it is derived. If you consider 'capitalize' for instance. In any society that is competitive, which is pretty much all, there are going to be winners and losers. It's the nature of competition and winning. Capitalism is the extreme competition that will be beneficial, long or short term based on a set of circumstances for some, just as it is destructive to others. In the US and across the world, Capitalism is weighted to benefit those with influence, power, money or circumstance (fortune/timing/placement), making the ratio of winners to losers disproportionate. Can we have it without 'interest'? No is the simple answer, because it is the very nature of the system to 'profit'.

I believe the Wizard of Oz story also has political meaning although the author always denied it. Funnily enough I wrote my own version of how Interpret it (or was that why you referenced this?)

I like your reference to Benjamin Franklin. A very clever man. I'm not aware of Ellen Brown or the "Web of Debt" so will look out for that, nor am I aware of BF's economical background. I had thought he was merely protesting against land owners who were exempt from paying taxes. Anyway I'm babbling - look out for a book called 'The Ragged Trousered Philanthropists' by Robert Tressell, if you haven't already :)

Thanks for the references and comment.