DISCLAIMER:I've never taken an econ class, so I'm going off my self-taught knowledge here. If Something is fundamentally flawed, and obviously so, I apologize. Thank you for understanding :)
Well, I'm going to go out on a limb here and say that thanks to the fiscally irresponsible, the morally irresponsible, and the American Dream, our economy is totally fucked. Or, if I'm Vladamir Putin or Wen Jiabao, it's all the capitalists' fault. I mean, if the majority of governments in the world operated under the pseudo-communism that now exists in their two countries this crisis would
I think not. As history has showed us, capitalism usually recovers better than communism. Communism isn't a terrible idea in principle. Everybody gets their fair share and what not, but... people end up sucking and ruining it for everyone else. But, the thing is that people, in general, want to make as much money as they can, and I think we've found a nice balance at this time of letting people succeed as much as they can, while limiting it so it doesn't really hurt others. Okay, Okay, capitalism is all about hurting the competition and getting more bang for your buck. I was talking more along the lines of J.P. Morgan and those other turn-of-the-century crazies. We also must remember when we're talking about capitalism and free markets that they have their ups and down. ups. <--key word. If you've ever taken a U.S. History class you may recall we've had about a bizillion "Panics of such-and-such a year". Overall, though, I think we can say capitalism has worked out pretty well for us westerners so far. So, Russia. China. Stop gloating and being douches. Just because at the moment you happen to be fairing a bit better than your cold-war nemeses doesn't mean you should forget all the times your fun revolutions totally failed. The position of "you suck, but let's focus on how awesome we are" is...a little juvenile. Maybe it's because the lack of international trading and lending that you're not as effected by a international crisis begun by ummmm.... trading and lending? So sush.
We can all see the trend of economics heading towards socialism. Europe's doing it, and formerly hard-core communist countries have learned to conservatise (not a word) a little bit. We all have things to learn from each other about how to best balance free-market and government, but at the moment we really don't know which way is best. For now, though, my large, red friends - let's give free market a chance (pseudo-communism is not the obvious solution), and learn to be a bit more responsible. But not too responsible. Come on, people. If you want you're fellow country-men to keep their jobs start spending a little. If you want the stock prices to go up, buy stocks. Just not from dumbasses you lend money to people they won't get it back from.
NY Times article on Russia and China the the World Economic Forum
In Soviet Russia...(Encyclopedia Dramatica)
