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The Forum > General Discussion > Capitalism a Ponzi scheme?

Capitalism a Ponzi scheme?

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All my life I have looked for a word to describe how I felt about Capitalism.
No I am not a communist, totally and forever opposed to them.
Once a Socialist, but understand it can never work.
Happy with the form of part Socialism we have under both our types of government.
But it seems I always thought capitalism could never work for every one, every country.
If each country is a shop front relying on selling its products to the other shops surely we under stand big brand country's will put little brand ones out of business?
Capitalism may well be the best way, I like owning my own home, being paid for effort, can not think of a better way.
But it may be best if we all do, unchained greed has cost the world economy enough money to feed ALL the worlds poor.
House the worlds homeless and the change maybe cure cancer.
Talk that this crisis will last 2 more years is at best optimistic, surely we are out of new investors to pay yesterdays losses?
All those years trying to find a word that spoke about capitalism, it was delivered by todays events Ponzi scheme a perfect description , for me at least.
Posted by Belly, Friday, 27 February 2009 4:57:17 AM
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Belly,

Everything that works as a hierarchy in this world is some form Ponzi scheme, including unionism.

Remember the old union adage of "last in, first off". Guess what? That's a Ponzi scheme. The guys who were there first, get to stay and reap the benefits, while those who came in last are the first to get laid off when things get tough.

If you want to get rid of Ponzi schemes, you need to get rid of hierarchies.
Posted by RobP, Friday, 27 February 2009 9:16:37 AM
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Belly,
That's about right Ponzi is as good as any other term. Like you I have real concerns about absolutism/ fixed dogma of anything simply because people don't come in neat packages.
To me any ideology that has fixed ideals and fixed motivations (dogma) itís badly flawed. In practical terms it is so corrupted by abuses of power it is as described a con (confidence) job (ref. the current economic crisis).
Statistically it will meet all the needs of a very few people (which capitalism does)
1/3(+or-) 2/3 will be ok but 1/3 well.... (Be they here in Aus or world wide)

For that reason I claim to be an unofficial Secular Humanist we've even got an 'organization'. If you're feeling thoughtful or just need help to sleep Google humanist or rationalist (they're different).
NB. To the Conservatives reading this Humanists are NOT re-badged Socialists or anything like them.

Unknowingly I've been one all my life...ípeople before profitsí. Yet I am suspicious of Socialism, Communism or Capitalism if only that they never existed in their pure form (albeit flawed) for the above reasons.

PS (off topic)Saw Christopher Pyne last night on TV his power base isn't that strong (religious end).
I still think he's more show than substance....more money...for the rich was one of his claims. His philosophy is everyone should drink from the public trough regardless if they need it or not. Not to each their needs (humanist)... he's a big end ideologue.
Posted by examinator, Friday, 27 February 2009 9:34:10 AM
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Dear Belly,

Capitalism a Ponzi scheme?

Yes.

Like the classic Ponzi scheme, capitalism needs
a steady and ever-increasing supply of new
investors, or it collapses. There's been no
shortage of those in recent genrations as we
expanded from local economies to the global
capitalism we have today. But eventually, the
expansion has to stop...

"Anyone who believes exponential growth can go
on forever in a finite world is either a madman
or an economist." Kenneth Boulding, economist.
Posted by Foxy, Friday, 27 February 2009 9:55:33 AM
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RobP.
"You need to get rid of hierarchies"
Why? they're not unique to Ponzi.
I always thought the money flow was Fifo rather than Lifo but that is irrelevant.
In fact Ponzi uniquemess is in their magic puding concept.

Foxy
Good call.
Posted by examinator, Friday, 27 February 2009 10:56:52 AM
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examinator,

The way I see it, when you're talking about a LIFO scheme you're talking about a club mentality. You have those insiders who can do no wrong (and consequently get the lion share of the benefits just for thinking the right way and for being there from the start) and then you've got the rest who are seen as possible invaders and only get the crumbs off the table. The people at the bottom are always feeding those at the top (who can easily have the attitude of "be mean and keep them keen").

This club mentality I trace back to hierarchies and the way they are used to keep others at bay and in their place. It's the root cause of the divisions in society, and all the iniquities that go with it, in my view.
Posted by RobP, Friday, 27 February 2009 12:02:32 PM
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