blueznl wrote:Capitalism is about making money on the expense of others.
Socialism is spending money before you earn it.
Communism is making sure everyone is just as poor as you.
Oh so close...but you left out the word "regulated".
'Regulated' Capitalism is about making money on the expense of others.
To date, 'Pure Capitalism' has not been allowed.
People in power absolutely do NOT want to leave wealth accumulation to chance or hard work.
Note there is no need to modify Socialism or Communism because regulation and coercion are central to those doctrines and do not emerge in a free society.
The Regulated Capitalism practiced in America is almost indistinguishable from fascism.
Our "elected" Senators and Congressmen have face time for Corporations and only form letters and voice mails for the citizens.
In Pure Capitalism, a monopoly is never a threat. It is the market's reward for excellence. In Regulated Capitalism, a monopoly is envied by its weaker competitors and ultimately forced into concessions because of its success. Whining and litigation replace competition. The losers are the customers which make up the free market.
Think of any superior product in existence and ask yourself if it were a monopoly, could it continue without fear of competition?
Why doesn't Apple charge $1000 for its iPhones? They can try, but Android emerges as a result. Even now, Apple is suing Samsung to delay its emerging Galaxy sales.
Why doesn't Microsoft charge $1000 for every app it makes? ... and so on?
No, the only reason we have regulation is that competitors decide to level the playing field artificially.
When this practice expands beyond sovereign borders, the same market rules apply.
If China wants to make all the worlds products, it has to make drastic sacrifices to its people and environment. The rest of the world has seized on this buying frenzy, but eventually China will have to raise prices to recover. As prices rise, competition allows other countries to participate.
The nice thing about standards is there are so many to choose from. ~ Andrew Tanenbaum