The Insidiousness of Unchecked Capitalism

[JamesSchacht]

Americans sometimes have difficulty recognizing the insidiousness of unchecked capitalism – the insidiousness of the belief “greed is good.” Unchecked capitalism can be characterized by capitalism that is unregulated and callous, ruthless, or corrupt.

A belief that capitalism can do it all denies the belief “it’s not all about me” that comes with morality, responsibility, and religion.

A belief that capitalism can do it all also ignores the need for a healthy competition achieved through regulation. For example, leaders in industry have previously expressed a desire to be regulated by government to achieve fairness in environmental regulation, since being under a system that relies on companies voluntarily purchasing pollution-reducing technology means those that do so are at a financially competitive disadvantage to those that don’t. Without this regulation, a prevailing business environment lacking in restraint is fostered.

In addition, a belief that capitalism can do it all denies a greater good that goes beyond mere greed being good. It therefore denies the commonweal as well.

Though we have a right to the fruits of our labors, we also have a responsibility to share nonessential resources with fellow persons in need. Moreover, all persons have a right to share in the resources of the planet.

For those that have and those that have not, finding a cause greater than ourselves can be rewarding.

By James Schacht, author of The Future of Democracy in America and the World: A Few Possibilities, see more at TheFutureofDemocracy.org

[jimmyolsenblues]

1. Capitalism or Socialism?

In either way, people's greed spoils it.
It all comes down to people, if people think more about how much they can take , then how much they help others.
We as a collective race as just cockroaches instead of the full potential we could become through helping others first.

[nicosgramsci]

2. These terms have a meaning though..

If socialism truly existed (China and the USSR is and was not "socialism&quot , greed wouldn't matter or exist. It comes down to eliminating the capital-labor relationship *and* abolishing private property (in other words, using property as a *social relationship* whereas one can exploit another). Personal property (a relationship between a person and a thing) is fine. Fundamentally, this is socialism. Capitalism, on the other hand, not only breeds greed, but thrives off it. Inherently, it is a system that allows for widespread exploitation.