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Re: Why unregulated capitalism will never work

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CheeseForEveryone is not online. CheeseForEveryone
Joined: 28 Nov 2011
Total Posts: 2677
09 May 2013 10:01 AM
Psychology. Groupthink lets people rationalize doing horrible things as long as they're in a group, and a corporate sociopath forms. People convince themselves that it's the rest of the group making them do this and that it's necessary and the entire group ends up violating ethics and human rights in exchange for profit, monopolies form, and everything collapses.

Think rapture from bioshock without all of the sci-fi stuff. Things go good for a short while and then companies start getting more and more vicious until everything is torn apart. It's just psychology.

tl;dr, groupthink makes people do bad things as long as there's other people around for them to use as a scapegoat while the others use them as a scapegoat
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Celestus is not online. Celestus
Joined: 15 Aug 2011
Total Posts: 14873
09 May 2013 04:35 PM
No the main reason is due to negative externalities and no supply of public and merit goods, a feature of a unregulated free market.
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RubiksCubix is not online. RubiksCubix
Joined: 04 Dec 2009
Total Posts: 4243
09 May 2013 06:10 PM
There should be basic restrictions to insure the system isn't exploited, but it should not be controlled.
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CheeseForEveryone is not online. CheeseForEveryone
Joined: 28 Nov 2011
Total Posts: 2677
10 May 2013 10:29 AM
But then that's not completely unregulated, Rubiks. I'm mostly just taking a shot at Objectivism here, which relies on the delusion that people won't do horrible, horrible things if they use groupthink and only have profit as their motivation.
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pepper0 is not online. pepper0
Joined: 01 Sep 2007
Total Posts: 12032
10 May 2013 09:44 PM
The main job for a government is to defend the rights of the individual, and that includes the PURSUIT of happiness, which means allow equal access to opportunity. Other then that, government must not ever in anyway shape or form intervene in the affairs of the free market.
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master1011 is not online. master1011
Joined: 22 Nov 2008
Total Posts: 5086
11 May 2013 01:15 PM
nop
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RubiksCubix is not online. RubiksCubix
Joined: 04 Dec 2009
Total Posts: 4243
11 May 2013 09:39 PM
I would agree.

This is why free schooling, libraries, college grants, and welfare should be permitted.
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