opinion of this quote by Noam Chomsky.

[Free Trade is managed by the invisible hand.]

"I should say that when people talk about capitalism it's a bit of a joke. There's no such thing. No country, no business class, has ever been willing to subject itself to the free market, free market discipline. Free markets are for others. Like, the Third World is the Third World because they had free markets rammed down their throat. Meanwhile, the enlightened states, England, the United States, others, resorted to massive state intervention to protect private power, and still do. That's right up to the present. I mean, the Reagan administration for example was the most protectionist in post-war American history. Virtually the entire dynamic economy in the United States is based crucially on state initiative and intervention: computers, the internet, telecommunication, automation, pharmaceutical, you just name it. Run through it, and you find massive ripoffs of the public, meaning, a system in which under one guise or another the public pays the costs and takes the risks, and profit is privatized. That's very remote from a free market. Free market is like what India had to suffer for a couple hundred years, and most of the rest of the Third World."
--Noam Chomsky

[k-onmmunist]

Positive.

[Free Trade is managed by the invisible hand.]

I agree but i also disagree. People need to realize that capitalism does have some severe flaws, but it is the greatest economic system we have had. Secondly Capitalism is dynamic economic force that has evolved slowly over time, and it will be interesting to see where it will be in the next 20 years.

[Mint]

Mostly true.

[Free Trade is managed by the invisible hand.]

From an economic standpoint i agree with capitalism, but from a moral and ethical standpoint i find the profit motive to lacking of values. Capitalism has seen much material progress, but even to this day it has yet to erect an awe inspiring ethical framework. Even in the workplace the code of ethics is not something companies live by, but instead is just something they simply comply with. Thus, if capitalism is to progress in an ethical sense it must move beyond ethical compliance, and a world that is dominated by the profit motive. In short, enterprise doesn't need to become more altruistic, but instead they should just simply think about others....all that is needed is some consideration even if it is only light.

[Derek]

was a damn communist

[© tweed]

was a damn communist

still very alive

[Earth]

From an economic standpoint i agree with capitalism, but from a moral and ethical standpoint i find the profit motive to lacking of values. Capitalism has seen much material progress, but even to this day it has yet to erect an awe inspiring ethical framework. Even in the workplace the code of ethics is not something companies live by, but instead is just something they simply comply with. Thus, if capitalism is to progress in an ethical sense it must move beyond ethical compliance, and a world that is dominated by the profit motive. In short, enterprise doesn't need to become more altruistic, but instead they should just simply think about others....all that is needed is some consideration even if it is only light.

There is no progression for capitalism to something ethical, because it would serve to undermine it, or at the very least, hinder it.

It's a very good quote.

[Eraserhead]

was a damn communist

still very alive

And recently barred from entering Israel, in fact!

[Derek]

was a damn communist

still very alive

And recently barred from entering Israel, in fact!

good

[So rightwing that I broke the Political Compass!]

How true Derek; Israel did after all do more damage to Zionism by forbidding his entrance then could have ever resulted from allowing him to continue to come.

[Free Trade is managed by the invisible hand.]

From an economic standpoint i agree with capitalism, but from a moral and ethical standpoint i find the profit motive to lacking of values. Capitalism has seen much material progress, but even to this day it has yet to erect an awe inspiring ethical framework. Even in the workplace the code of ethics is not something companies live by, but instead is just something they simply comply with. Thus, if capitalism is to progress in an ethical sense it must move beyond ethical compliance, and a world that is dominated by the profit motive. In short, enterprise doesn't need to become more altruistic, but instead they should just simply think about others....all that is needed is some consideration even if it is only light.

There is no progression for capitalism to something ethical, because it would serve to undermine it, or at the very least, hinder it.

It's a very good quote.

Last time i checked every publicly traded company(or something) is required to write a code of ethics. These companies mainly ignore the ethics, and at best only simply comply with them. Japan on the other hand has CEO's, and middle managers who not only comply with their ethics, but they also practice what is written like it is some sacred form of honor. Thus their are many examples within the system of capitalism that shows that it is possible to voluntary abide by some ethical considerations. Finally I would like to point out that the governments around the world have passed regulations to ensure that unethical practices are limited.

Capitalism has already achieved material progress through an uneven, but somewhat acceptable form of material progress. Thus it is time that it embarks on a great journey to match that material progress with ethical conduct.

[opebo]

Chomsky's great - freedom fighter, freedom quote.

HoffmanJohn, I'm a little nauseated by your trumpeting of the supposed triumphs of capitalism.  I think it is more seemly to speak of capitalism as a necessary evil to be tolerated as little as possible for purposes of what we can get from it.  Because after all its essence is privilege and domination. 

[Free Trade is managed by the invisible hand.]

Chomsky's great - freedom fighter, freedom quote.

HoffmanJohn, I'm a little nauseated by your trumpeting of the supposed triumphs of capitalism.  I think it is more seemly to speak of capitalism as a necessary evil to be tolerated as little as possible for purposes of what we can get from it.  Because after all its essence is privilege and domination. 

How is capitalism a necessary evil? Capitalism is much better and more stable compared to what it was during the 19th century. In fact capitalism may still be in its early stages, and thus as it grows it should improve. I would like to point out that it is really easy for anyone to be critical of capitalism, but I am sure if karl marx was alive today he would see a capitalist system which is a million times better than what it was during the age of imperialism, or the gilded age.

[opebo]

How is capitalism a necessary evil? Capitalism is much better and more stable compared to what it was during the 19th century. In fact capitalism may still be in its early stages, and thus as it grows it should improve. I would like to point out that it is really easy for anyone to be critical of capitalism, but I am sure if karl marx was alive today he would see a capitalist system which is a million times better than what it was during the age of imperialism, or the gilded age.

Its essential structure has not changed from Marx's day, HJ, it is just that we have overlaid some 'anti-capitalist' reforms to ameliorate its brutality and instability.  (and I might add, we've also moved very far to removing those reforms over the last 30 years).  The heart of the system is still alive and well - subjugation of nearly everyone for a tiny elite.

[Free Trade is managed by the invisible hand.]

How is capitalism a necessary evil? Capitalism is much better and more stable compared to what it was during the 19th century. In fact capitalism may still be in its early stages, and thus as it grows it should improve. I would like to point out that it is really easy for anyone to be critical of capitalism, but I am sure if karl marx was alive today he would see a capitalist system which is a million times better than what it was during the age of imperialism, or the gilded age.

Its essential structure has not changed from Marx's day, HJ, it is just that we have overlaid some 'anti-capitalist' reforms to ameliorate its brutality and instability.  (and I might add, we've also moved very far to removing those reforms over the last 30 years).  The heart of the system is still alive and well - subjugation of nearly everyone for a tiny elite.

what are some of the essential structures of capitalism that are still in existence today?

The evolution of capitalism is slow,but what was once imperialism has now been replaced by FDI, and international market intervention. Obviously there are some major issues with FDI eroding another nations sovereignty, but even this marks a vast improvement over imperialism.