to think that capitalism has failed?

[rainbowtoenails]

USA credit rating has been downgraded. Heard on news that standard of living will slump by 25% in next 25 years.

China, a communist country, in theory is going to be the world's strongest economy.

I'm not a fan of communism but we do need to move away from our current economic model, I tink.

[rainbowtoenails]

Think, D'oh!

[Thistledew]

I would say that capitalism has succeeded. Most of the world's wealth is held by just a few hundred people.

Whether capitalism is a successful way of distributing wealth and resources in terms of the greater good of all human kind is a different question.

[LineRunner]

I guess it's just China's turn to pillage the earth's natural resources for a bit, whilst creating massive internal economic & health inequalities and familial misery.

[teta]

The Chinese are the biggest capitalists ever!.Businesses in China have grown massively in the last few years and wages of professionals are the same as uk rates.Also a new wave of employment legislation means that its very difficult to sack people.China is a communist country purely in name now.

[EdithWeston]

China's policy since the early 90s has been "capitalism with Chinese characteristics", and "let some become rich first".

If China sitting on the cusp of becoming a superpower is the killer evidence, then it is a triumph of the country's embrace of capitalism that has produced it.

[SinicalSal]

China is the worst of both worlds really, in reality it's a neolib haven with the sort of human rights and rule of law associated with the darkest days of communism. Huge inequalities there.

[Nancy66]

China doesn't give a fuck about its poor, sick or disabled.

[Tee2072]

Nancy, right now neither does the UK. Just look where the cuts are happening.

All countries are equally bad no matter the supposed method of government. The rich stay rich and get richer and the poor stay poor and get poorer. It is human nature, IMHO, to protect your own and fuck everyone else.

[Whatmeworry]

Capitalism is doing just fine, the income disparity is now back to 1900 levels. What is failing is democracy which is supposed to redistribute more equitably.

[teta]

Yes,i agree Synical and Edith, with absolutely no social security and free health service for the masses and of course no freedom of speech.The few that have become very wealthy are also very good at evading taxes[like a capitalist economy].The way that HK has been run as an SAR has been exemplary from the point of view of making money [since the handover]and can be seen as an example.China will be the next super-power but i wonder how long it will last with the next generation of super-spoilt, lazy, only children?

[SinicalSal]

No you can't say all countries are equally bad, Tee.

I agree it's human nature to protect your own, and hoard your power and possessions - that's why we should be grateful and vigilant about protective legislation for the ordinary person that's been fought for over centuries. (In the western world, I mean here). There's always a tendancy to claw them back, as though we have been granted excessive sweetmeats by our over benevolant lords.

[Nancy66]

Tee - you can't possibly compare the Uk to China.

We don't bulldoze people's homes without warning, force peope to abort their children or leave people to starve to death.

[khaliwali]

Comparing the UK to China is sixth form politics. It is also a bit insulting to people who pay taxes to provide a welfare state that, whilst it has it's faults, is bloody amazing. I live in the Middle East and have always said I would never, ever use the NHS again because it is shit. Yesterday the stupid nurse got my mammogram result confused with someone else's and told me the doctor wanted to urgently refer me to an oncologist and surgeon. After 10 minutes the doctor saw me and said the nurse was wrong. In those 10 minutes all I could think was how I would get back to the UK as soon as I could, not for free care, I can easily afford private, but to find care I could trust and understand.
That said, I like being well off and am never going to apologise for it. I find wealth attractive not disdainful.