Would we know it, if capitalism were to collapse?

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What would the warning signs be, and would we see them if capitalism were to collapse? According to Robert Theobald (author of - alternative scenarios for Y2K, will we break through to a new era of collaboration?), the west has misinterpreted the meaning of the collapse of the Soviet Union "we have seen it as the triumph of capitalism over communism" Theobald goes on to say, "I believe that the evidence is all around us: we are confronted by signs of economic, social, moral and ecological crisis". Any comments? timkaz@nor.com.au Timothy J Wilbur

-- Timothy J Wilbur (timkaz@nor.com.au), August 03, 1998


From the beginning of recorded history, there has always been economic, social, moral and ecological crisis. There have always been doomsdayers, signs in the stars and heavens, major volcanic eruptions, and comets. And out of each situation that erupts, there's always a doomsdayer saying it's the end of the world. My great grandmother told of a story, that in 1844 a group of zealous people gathered to together on top of a hill because they thought through their interpretation of the Bible, that Jesus was coming back again. They sold everything they owned, and headed for the hills. Of course Jesus did not appear, OOOOOOPS! No one can predict the outcome, except for we know that communism does not work.

-- Bardou (bardou@baloney.com), August 03, 1998.

The end of comfort will be the end of the world for most.

-- smith (gman100@webtv.net), August 04, 1998.

Except those already living in discomfort. I think the homeless may fair well, except they may have to work a little harder to get food and will be fighting with the rats and mice to get it.

-- Bardou (bardou@baloney.com), August 04, 1998.

When you ask whether "capitalism" might "collapse" I think what you are asking is whether the economic system of the West might collapse. This is different than critiquing capitalism, since what the West has for an economic system is not a truly free market (for example, look at how much of an impact government regulations and Medicare/Medicaid spending has on the health care industry). Some whompin' huge percentage of our economy is planned and centrally controlled by the government (tho we don't think of it that way -- we just call it "taxes" and "regulation", not "central planning" and "socialism") just as the economy of the Soviet Union was. If the West had remained on a gold standard (so the gov't couldn't inflate away our savings) and if the Federal government did not regulate so many aspects of the economy -- if we truly had a free market -- it might make sense to ask whether impending financial troubles were any reflection on "capitalism." Instead, I'd argue that these problems are just more of the same kinds of troubles that other economies that are to some degree centrally manipulated undergo. Sort of a mini-version of the Soviet collapse.

-- Mark (here@there.com), August 04, 1998.

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