Some critics have mistakenly complained that the US government has turned to socialism for a solution to the current financial crisis in a capitalistic system. Yet what the US government has done is merely turn failed market capitalism into state capitalism. Nationalization alone does not lead to socialism. Socialism is not merely collective ownership of the means of production. It must also subscribe to an operative goal of fair sharing of the fruits of the economy through collective ownership of the means of production.
In a socialist state, state-owned enterprises are the venue of socialist ownership of the means of production which is deployed to support the interests of workers. But in a capitalist state, state-owned enterprises do not entertain such populist goals. State capitalism continues to oppress workers for the benefit of capital while the state represents the interest of capitalists rather than workers. State capitalism subscribes to the trickle-down theory – saving the banks to save the citizenry. What is needed is for government to save the citizenry by direct assistance with job creation and wage guarantees, not inter-bank loan
guarantees. from atimes.com C.K. Liu’s article 10/29/08
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May 29th, 2010 at 5:47 am
I strongly urge you to watch this video! it answers your question!http://video.google.com/videoplay?docid=7065205277695921912
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May 29th, 2010 at 6:15 am
Anytime the government takes stake in private enterprises, it’s going to raise a couple of eyebrows.
The whole concept in capitalism is free market, and that government should stay out of private businesses.
What the government did contradicted the founding principles this country so boldly boasts about.
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May 29th, 2010 at 6:59 am
Ok, Democrats lead the way in Congress, so blame them on this apparent progress towards it.
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May 29th, 2010 at 7:39 am
We have a legal avenue for socialism factored into our system which anyone (almost) can be a willing part…. join the service. Equal pay,
equal work, paid by the taxpayers, serve the country without question.
You get a free bed, medical, meals and even clothes.
If we want to protect capitalism, we need to have the courage to let business rise and fall as it will. That’s a hard pill to swallow
sometimes, and it is true that ambition can breed greed, however socialism offers a tendency to easily accept whatever is handed out.
Bailing out these companies isn’t socialism, although I do think it is a slippery slope in that direction. Everyone I know is talking about lining up for a piece of the pie. Who is going to pay for all of this?
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