Why capitalism is failing so many people is in its politics. Politics of the right- wing theology. I say this because as with Catholicism, and most other forms of western religion, it is a conservative concept. And conservatism is a reactionary force. Because so many right-wing non-thinkers lack a fundamental philosophy, conservatism run amok becomes nihilism (albeit a moneyed nihilism). Go to a moneyed cocktail-party, as I have done, and ask a successful man (usually) for a Liberal Party philosophy and you will get, as I did, a reply/lecture from John Elliot as to the fault with society lies with young people having no respect for older people and/or manners. (Odd, as the last thing this gentleman has is manners). This may have a germ of truth sometimes. But it scores zero on a philosophy scale.

Any social change has to come from left-wing political parties. To take two examples, Medicare and the Sydney Opera house could never have come about from a Liberal government, state or federal.

This is where everything comes unstuck. Any idea from bean counting, to social progress, to funding for the Arts (I have to make one exception here. It was thanks to the late Harold Holt, Liberal Prime Minister who met with an unfortunate death that the Australian Ballet Company became what it is today). But mostly few Liberal/Nasho members can look at any idea posed by the left-wing without rejecting it.

Creative imagination is sparse on the conservative ground.

While I support that trade for 3rd world countries is better than aid, globalisation is based on a extreme winnter takes all corporatist agenda - there are no such thing as free trade - saying that implies that there are no values in the market place.

I have a development degree and I can attest that this is what I learnt studying globalisation - the World Bank, IMF and World Trade Centre are up to their necks in this!!

“The left believes that jobs should be there for the workers, the right thinks that workers should be there for the jobs”

cheers
Warwick

If we want to avoid the ugly scenarios Guy foresees we need the kind of vibrant discussion I hope he sets off.

Bob Smith

I would like to plug another area of ideas overdue for re-evaluation: our monetary system itself. I refer you to “http://en.wikipedia.org/wiki/Bernard_Lietaer”, and commend the book “The Future Of Money: Beyond Greed and Scarcity”.

Lets not forget the benefits of capitalism shall we….globalisation, free trade, innovation through protection of intellectual property rights to name a few. What about the greatest reduction in poverty in history through trade with India and China?

Adam Smith’s “invisible hand” is just as important today as it was back in the 1700’s… The Financial systems primary role; of allowing those with money to lend it to those who need it (for a fee), is one of the most socialist concepts around. If those that have money just stick it in a safe, what good is that to the world? By putting it to work in the economy, it allows others to buy houses, start businesses and increase their own wealth, to then lend to others. What is wrong with that?

Yes, we have experienced a downturn in the economy. Yes people are hurting. But to claim that the current system won’t survive seems a little premature. Because lets not forget that capitalism helped get us out of the downturn as well. It wasn’t all government spending…The Reserve Banks reduction of interest rates to encourage spending also contributed..straight out of the capitalist playbook.

Thank goodness there’s a reasonable smattering of sh*tstirrers at Crikey to keep us all awake.
Now go and enjoy that beer. You’ve more than earned it!!!

My grand-kids (if any) will probably despise my generation, who lived through the Menzies ‘50’s and the subsequent decades and missed opportunity after opportunity to an support develop fairer, more optimistic, peaceful and inclusive societies and chose instead greed, nationalism, consumerism, war and John Winston Howard’s myopia. And, dare I say, we collectively hung onto our various religions long after it became apparent that no rational person can support either religion or religiosity.

Keep rattling the cage. We all need to be stirred into thought occasionally.