Quote:
Originally Posted by merrylander
Capitalism vis a vis soci@lism neither is a panacea simply because they both failed to take human nature into account - people can be greedy and selfish and so must be regulated for their own good. If you are an honest and compassionate person such regulations will not bother you. If you are dishonest and selfish they will simply curb your bad appetites. In the long run which is better, an economy that grows steadily or boom and bust?
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+1 and QFT.
IMHO, there is no "perfect" economic system. But if you want to put in place a system that appeals most efficiently to the "better angles" in human nature, capitalism is the way to go. Capitalism allows individuals to maximize their talents and resources, produce economic growth, and efficiently convert capital. Sure, it is a system that produces winners and losers, but the compassionate nature of those who participate in the system provides for a social safety net. It also encourages risk taking, which often produces economic reward.
So*buttmonkey**buttmonkey**buttmonkey**buttmonkey* *buttmonkey**buttmonkey*m starts with the safety net, and encourages inefficiencies, and lack of participation in the economy. Its a system that provides an inherent reward for those who choose to be unproductive or under-productive. This creates a negative inertia that is very difficult to overcome.