What would be the alternative to capitalism in other words private enterprise. A lot of people tend to say socialism, but the problem with that argument is that there’s a socialist version of capitalism. Socialism is not an economic system, but a political philosophy that cover economics like all political philosophies do. But there are plenty of Socialists and probably the overwhelmingly majority of Socialists in the World now not just in America. That believe in a form of capitalism.
Europe is a perfect example of that, Scandinavia especially but go to France or Germany as well. In some ways Germany is more capitalist than America especially when it comes to their healthcare system which is completely private. The actual answer to what’s the alternative to capitalism, would be state-ownership, or the state owns the means of production to society. State-control, In other words Marxism.
The debate in America and Europe now, but places in Asia as well like in China and India, but also Brazil, is not whether we should have a capitalist economic system. But what type of capitalist system should we have. And how much economic freedom people should have, rather than should they have any. Compared with how much power and responsibility should the national government have to see that innocent people aren’t be taken advantage of and to punish those who hurt innocent people.
And what responsibility should government have to meet the needs of the people. We are no longer debating as a world for the most part should we have capitalism, or not and should the state own and run the economy. That debate for the most part ended at the end of the Cold War twenty years ago.The debate in America today about economics really come from four different sides. About what type of capitalist economic system should we have, including from Social Democrats or Progressives in America.
Should we have a liberal economic system which is what Barack Obama and his wing of the Democratic Party want. Where government is there to help create an environment where all Americans would have access to economic freedom and be able to enjoy capitalism. Should we have a conservative economic system where government spends very little and where regulations would be cut. Should we have a Socialist economic system where the economy would still be private for the most part.
But where the Federal Government would play the major if not only role in providing for basic human services. Like education, healthcare, health insurance, retirement to use as examples. Or should we have a libertarian economic system where government does and spends practically nothing. Fifty, sixty years ago the economic debate in the world and perhaps even in America. Was should we have capitalism at all or should government own and run the economy for the benefit of the people. But that debate ended practically twenty years ago when liberal democracy defeated communism to end the Cold War.
Grit-TV: Richard Woolf’s Cure For Capitalism