financeguy
ONE love, blood, life
Unfortunately, those two arguments are what rich people tend to repeat, while nothing is further from the truth.
Capitalism was successful only for a small group of people - the ones that got rich. Sometimes with hard work, most of the time with stealing resources from the poor, from nature. Capitalism is a system of exploitation that divides the workd in classes.
First semester social studies gibberish.
hiphop said:Wealth is heavily concentrated in North America, Europe, and high income Asia-Pacific countries. People in these countries collectively hold almost 90% of total world wealth.
Hence, more free trade is needed to even out the gaps. More free trade, or if you prefer, more capitalism, not less.
hiphop said:Although North America has only 6% of the world adult population, it accounts for 34% of household wealth.
Indeed, America has been a remarkably successful and innovative society. If other societies follow its template they can become richer. If they want to stay poor, I recommend communism and Islam. Ideally, a combination of the two. Ask your self why is it that certain countries with few natural resources can become comparatively rich (Switzerland, Israel, New Zealand, Hong Kong, Singapore). What is it that these countries, in some cases thousands of miles apart, have in common?
hiphop said:Europe and high income Asia-Pacific countries also own disproportionate amounts of wealth. In contrast, the overall share of wealth owned by people in Africa, China, India, and other lower income countries in Asia is considerably less than their population share, sometimes by a factor of more than ten."[/B]
Asia has been held back by Islam, the caste system in some countries (especially India), and unfair anti-free trade (anti-capitalist) policies pursued by the West. Again, the solution is more capitalism, not less of it.
hiphop said:According to the Human Development Index, the average dairy cow in Europe in 2000 received $913 in subsidies, compared with an average of $8 per person in sub-Saharan Africa.
So, in critiquing capitalism, you draw attention to the quasi-socialist CAP and similar polices?