Capitalism, a system in which “capital is invested in the production, distribution and other trade of goods and services for profits,” has been criticized by some for its overemphasis on individual or group interests. It has been observed that corporations, in a bid to expand their profits and sustain growth, turn to illegal and anti-human means. This news story provides just an example and backs that statement.
(AP) A federal judge says the nation’s top cigarette makers conspired for decades to mislead the public about the health hazards and addictive nature of smoking…
The judge [...] order[ed] the companies to stop labeling cigarettes as “low tar,” “light,” “ultra light” or “mild,” saying they have used those terms to mislead consumers.“They distorted the truth about low tar and light cigarettes so as to discourage smokers from quitting,” Kessler [the judge] said.
“They suppressed research. They destroyed documents. They manipulated the use of nicotine so as to increase and perpetuate addiction,” Kessler wrote in the ruling, which often referenced internal industry memos. More…
To my mind no system has the answer. It is the spirit of individuals within a system that makes it work or fail. When individuals work from a spirit of greed, power or hatred any system will fail. Alternatively if individuals within a system work in a spirit of love, compassion and cooperation a system will thrive. A system can also be renewed if the individuals within that system start to work with a new spirit, with best wishes, The Artist
The Artist: such notions as you bring forth would be beautiful in a “real working environment”, but unfortunately they never will. Idealism is a bitch, ain’t it?
How many people have they murdered?
AriadneK I am sorry you are experiencing a negative working environment. My own experience of the real working environment has been varied and sometimes harsh, but I have also learnt what a change individuals with the right spirit can bring in such environments. We all have choices and we all have voices and we are all part of creating change, with best wishes, The Artist.
You didn’t provide any proof that Capitalsm doesn’t work. Capitalism is alive and well in this country, just because he can point out a instance that some corporation was accused of wrong doing doesn’t prove that Capitalism doesn’t work.
That’s right!
Together unite us and let us crush capitalism.
Interesting blog I shall be back.
And the collapse of Russia and the poverty and suffering under Mao proved socialism doesn’t work.
Look deeper.
In reality what doesn’t work is huge government and the gigantic structures it supports.
Capitalism works just fine - it is over regulation and taxation that creates monsters which consistently fail under any system.
Big government doesn’t work - ever.
China is recovering and its people are better off - to the extent they are abandoning socialism and embracing individualistic capitalism.
The issue of where the `social safety net’ is placed within a capitalist society is something that creates a different flavor within systems. Australia and many European countries spread this net much wider than the US. When the net is wider, that is the social services provided by the rich to the poor through tax is more generous people have a chance to recreate their lives when for some reason they fall out of the system. When this net is narrow people either sink or swim and a larger gulf is created between the rich and poor. Each capitalist society seems to have a different place for this net but it something that needs to be looked at with great care in regard to the working of a capitalist society.
Keep it simple:
“In the Soviet Union, individualistic capitalism triumphed over communism. In the US of A capitalism triumphed over democracy and freedom.”
Oh sorry, I should have written United States of George Bush.
I don’t think that it’s capitalism that’s the problem. It doesn’t matter what kind of system you have, there will always be dishonest, greedy scumbags.
True, Capitalism is frought with opportunity for individual corruption and must be tempered with the right amount of intervention. However, it is also the ONLY economic system that can exist without total force on the people.
It is far from perfect, but after living in more socialist societies, I’ll take my chances with Capitalism EVERYTIME.
Capitalism may have its examples of corruption, but socialism and communism ARE examples of corruption. YOu simply can’t give the government enough authority to do what is expected of it under socialism and communism without denying freedom of choice to everyone.
Capitalism is the system, stacked against the individual as it can be at times, that gives one person at a time a chance to go as far and do as much as they’re willing to work for. And it is also most unfortunate that lowlifes can be found in dominant positions in many corporations.
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While no economic system is perfect, no system in history has even come close to capitalism. Even with its flaws it is an excellent system and primarily breaks down when it is subverted to begin with, as in some form of price controls.