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Thread: Has capitalism failed?
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[quote=JSUMMERS83,330939]I think this is a great topic and definitely worthy of much discussion. It is expected that such a question would be raised during this crisis, but it makes one bad assumption, I believe: Capitalism = Unending Prosperity To assume that there is any economic plan that can produce infinite gains while also including people from every walk of life - smart, dumb, rich, poor, etc. - is crazy. LEONARDO calls it a dormant volcano that erupts periodically, but most people just call it an economic cycle. Right now we're at a low point in that cycle, and I'm confident that the cycle will continue to include more highs and lows in the future. If anything, I think that the biggest problem in America's mentality isn't necessarily capitalism, it's our addiction to debt. Whether it's the government or a single household, we wear debt like its a fashion, and right now that fashion is going out of style. As much as I hate to see it, it looks like China - a country whose people normally save their disposable income - is also beginning to buy into the idea of credit cards and living beyond its means. When that happens, I think you'll find that a financial crisis does not play favorites between capitalism and socialism.[/quote]
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