General Question

Johnny_Rambo's avatar

Is Socialism bailing out Capitalism in America as of late ?

Asked by Johnny_Rambo (888points) February 18th, 2009
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11 Answers

shamroch's avatar

It depends on your limits for capitalism. I mean, there are socialists aspect to our government, but it hardly qualifies as socialist. As for right now, we have mostly been using keynesian spending policies. It’s definitely edging left, but not quite to socialism yet.

Though with the way the banks are looking . . .

Nationalization might come soon.

basp's avatar

Most people who think we are too socialist have no idea what socialism really is.

Mtl_zack's avatar

Socialism isn’t necessarily bad!

Canada is socialist, and we’re one of the countries with the highest standards of living. And I believe that we we continue to strive, partly due to the government intervention such as nationalization of companies, universal healthcare, restricting certain energy sources and restricting the banks.

wundayatta's avatar

Well, socialism in a capitalistic way. It is big capital that is being supported by the public. They say the people will eventually benefit, but we know that big capital will certainly benefit. Though, you have to ask what happens to the billions given the auto industry? Where does it go when they spend it?

tabbycat's avatar

We never were a totally capitalist nation, and we will never be a totally socialist nation. The trick is moderation. We need for the government to do certain things for us—like keep our roads in working order and provide our children with a basic education. Yet we need to encourage the entrepreneurial spirit, which enables our economy to grow—as well as contract sometimes.

Mamradpivo's avatar

There’s an assumption that America was ever a capitalist nation. When the US government is the largest employer on the planet, and the largest buyer of goods, we all have to accept that there’s no invisible hand. The government has always directed the economy, it’s just being more direct about it now.

laureth's avatar

It’s amazing how many die-hard Capitalists are very willing to socialize their losses.

steelmarket's avatar

Socialism, if we ever had pure socialism in this country, would by its very nature be incapable of bailing out capitalism, if we ever had pure capitalism in this country. Pure capitalism could dig a financial hole so deep that pure socialism could not fill it in.

TheKNYHT's avatar

YEP! and its not bailing anything out: irresponsible companies and management abusing their resources are being given more money. All this bail out is doing is reallocating the debt elsewhere:
you and me. and the next few generations, if our economy even survives that long.
Before you know it, we’ll have to abandon the dollar all together, and come up with a whole new currency, and an entirely new governmental system!
Let’s watch and see!

TheKNYHT's avatar

@laureth LOL! VERY good insight! LURVE all over the place Sister!

Ron_C's avatar

It would be funny if it wasn’t so sad. Banks insist on an absolutely free market without government regulation. When their in trouble, they become situational socialists.but deny any social relief for others. They say things like “we can’t afford to extend the unemployment compensation because it increases the deficit” Funny, we had a surplus, they spent it, gambled the rest away but need insurance against failure. Does anybody else see the humor in this?

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