Saturday, October 10, 2009

Failure of U.S. Capitalism

Many laud capitalism as being the most democratic and efficient form of economic philosophy. How can this be when trillions of dollars are being handed over to banking institutions; trillions of dollars borrowed from U.S. taxpayers. It seems the free wheeling Bush administration's last act for Big Business was a grand finale.

Republicans and other conservatives hold Capitalism up as a shining beacon, the most perfect form of economic philosophy, yet they do everything in their power to bring it down; by enacting laws and regulations that encourage unethical practices, the examples which are evident today as well as in the past. The 1929 Depression should have been an over whelming example of runaway Capitalism, the 80's Savings and Loan scandal should have been another example of what deregulation does to an economy and the Recession of 2008 should be the final straw. Money talks as well as corrupts and there seems to be a direct correlation between political contributions and partisanship; i.e. the more money contributed to a politician's campaign fund the more arguments he or she finds to favor the contributor's cause. Politicians have been clever about denying quid pro quo but it is a fairly obvious that politician's are being swayed by money coming their way.

I suppose the fault is not Capitalism but how it is regulated. Any fertile field is subject to overgrazing. Greed is a powerful human impulse, so must be checked by objective means.

Any direct, or indirect, contacts by political contributors to a politician's office or person should be public record. Money should be taken out of politics. Direct payments to a politician's campaign should henceforth be forbidden. Lobbying should be regulated and be of public record. Campaign spending should be limited. Far too much money is being spent on propaganda. Propaganda, meaning disinformation and outright lying about a opposing candidates record or position. Democracy is not being served.

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