Capitalist Economics 101

[Bud Struggle]

http://i17.photobucket.com/albums/b64/QuirtEvans/titanic.gif

[Trystan]

Quite!

[IcarusAngel]

Yep. Wall-street will make it, the people are hurting. Actually, the Clinton years had something similar where it was mostly the super rich making out like bandits. And of course Reaganism was similar.

Actually, with the large amount of speculation, the capitalist economy won't collapse until long after millions are in poverty. It's a system that will last until it is transcended.

[Schrödinger's Cat]

Tom, I recommend reading Kevin Carson. He's a mutualist (free market socialist) who may spark some interest in your beliefs: http://www.fee.org/Publications/the-Freeman/article.asp?aid=8271

[Bud Struggle]

Thank you Gene. As I have always said--I'm here to learn and I muchly appreciate any opportunity to learn anything new and interesting about this world. as I have aways said--I have no knowledge of economics. And business ISN'T economics. :D

[JimmyJazz]

^I agree that business isn't economics, but economics isn't the whole story either. Radicals focus on is political economy. Read at least the first 10 paragraphs of this (http://libcom.org/library/commodity-fetishism-fredy-perlman) essay for a really good and concise explanation of the difference between the two.

Economics is a valid pursuit, but it's no replacement for political economy. Yet, political economy has been entirely pushed out of respectable academic studies of the economy, probably in large part because of its radical implications.

It's so ridiculous though. Exchange of goods (economics) is an entirely different part of the economic chain than production of goods (political economy). Neither step is more or less important than the other; they are both essential. So to study one to the exclusion of the other makes absolutely no sense and is basically an ideological choice.

Anyway just read the essay. :)