This exercise has real world application!

Hi;

Suppose you had the responsibility to design an entirely new economic system to replace our present very mature American capitalist economic system. Suppose you started by listing the merits and problems, as you see them, of American capitalism.

The goal is to retain in our new economic system the merits of capitalism and eliminate the problems.

I would list at least two merits as follows:

(1) Capitalism can empower people with new ideas for products or services. That is it can provide them with the capital to get their new product or service to market.

(2) Capitalism has the ability to eliminate economically unjustifiable investments from the capitalist economic system. The way this occurs is via recessions or depressions.

I would list at least two problems as follows:

(1) Capitalism eventually concentrates most of the capital into the hands of a very small number of capitalists and their corporate entities. In our very mature American form of capitalism this concentration has created a capitalist oligarchy that has transformed our democratic republic into a de facto fascist state.

(2) Capitalism economically disenfranchises the working class which leads to politically disenfranchising the working class.

What are your thoughts? What would you put on the list as capitalisms merits and problems as a first step in designing an economic system to replace our very mature capitalist economic system?

Give some thought to how you could retain the merits and eliminate the problems?

By the way, this exercise has real world application. Our corrupt, failing, very mature capitalist economic system is overdue for a overhaul or replacement. It will be great if the capitalist economic system holds together long enough for normal economic/social evolution to slowly replace the capitalist economic system with an entirely different economic system. Unfortunately, we cannot rely on that happening. The problems associated with keeping our American capitalist economic system are so numerous and so overwhelming that the capitalist class and Corporate America are giving up on solving them, or even pretending they are trying to solve them. Instead, it is obvious that they will attempt to retain their power via a fascist military/police state because they cannot solve them.

Given that the only real beneficiaries of capitalism are giving-up on solving the problems associated with keeping capitalism functioning I believe that it will be in our individual and collective best interests to give some thought to what may replace capitalism.

John P. Stoltenberg, P.E.
N8362 State Highway 67
P.O. Box 596
Elkhart Lake, WI
53020-0596
920-876-2184
jpstolten@verizon.net