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Today in London the great and the good have gathered to talk about "Inclusive Capitalism" - amongst them Prince Charles and Lynn Forester de Rothschild  ;D     I'd have liked to have seen Amir Taaki there myself  ;)

    So - it would seem that capitalism isn't fundamentally at fault, it just needs to be more "inclusive".


What is Inclusive Capitalism ? Can it be brought about by greater regulation, better education, a more aspirational culture ??


Is capitalism fixable ? Or is its failure inherent within its very nature ?

ahhh why u had to bring a topic on capitalism?  capitalism is for the corrupt  ;D

No I dont think it cant be fixed,  I havent seen it happen yet.

i prefer to point towards human nature instead of the label of "capitalism" .. after all, it's people who operate within the capitalistic societies. regulation COULD work, but the problem is that politicians don't look out for the everyman; instead they try to help out the big corporations, and ultimately, themselves. the nature of everything is to grab as much as you can for yourself, nevermind the aftermath of your actions... and as long as people can get away with it, they will.

"Inclusive capitalism" is probably just another word for "socialism." Some things I'd like to see are:
1) Minimum-wage fast food jobs go back to being filled by teenagers looking for a summer or weekend job and people who just aren't qualified for any other kind of job. Forget the $15 an hour rift and look into vocational training if you want to move into a truly well-paying job. If nothing else, look into starting your own restaurant.
2) Education should give equal time to reasoning and practical real-life skills that students are actually going to use when they graduate. Have a required logic class in high school at the very least and make the students solve a Rubik's cube for the final exam.
3) People on welfare should have to work on "community service" projects for so many hours a week along with proving that they aren't spending the money on drugs and partying, or they just won't get the monthly check.
4) Apply for a one-way trip to Mars. If you can prove you have what it takes, you might just make it and there will be opportunities in the future.

What are such projects that don't take away real jobs that pay money?

Pointless work is a waste and if the work isn't pointless one should be paid for it.

Construction of log houses for the homeless!

Why don't we then outsource all of the construction bussiness to these people? They are much cheaper anyway.

And what happens to guy who was contracted to build those houses previously?

That's about what I was going to say. There's Habitat for Humanity and people can also volunteer at local charities. If people didn't have a pickle in their rear end about "separation of church and state," I'd suggest the Salvation Army.

Haha,isn't inclusive capitalism an oxymoron? Capitalism necessarily needs a richer-class and a working class. The very structure of modern-day capitalist markets guarantee and further propagate inequality. Socialism maybe?  ::)

Governor of The Bank of England has made some interesting comments about the crisis in capitalism  (http://www.theguardian.com/business/2014/may/27/capitalism-critique-bank-of-england-carney)

"Just as any revolution eats its children, unchecked market fundamentalism can devour the social capital essential for the long-term dynamism of capitalism itself"

"All ideologies are prone to extremes. Capitalism loses its sense of moderation when the belief in the power of the market enters the realm of faith."


There's a place for the free market - even the Chinese have accepted this. But they (the Chinese) have clearly demarcated its boundaries. The free market serves the larger society, not vice versa.


   But I've got to be honest - a conference on "Inclusive Capitalism" [as stated above, the term itself is a bit of a contradiction in terms] with the likes of Prince Charles speaking really does make me wince.
  It seems to me that capitalism holds within it the seeds of its own destruction.

Amen. On one hand, you got the lefties bitching about the capitalist system which we don't have and on the right, you got supposedly capitalist minded people apologizing for big banks and big business that operate in collusion w/ and at the liege of the govt bureaucrats/regulaters. Just like the political system, we're operating in a false left/right dichotomy which is a huge smoke screen obfuscating what's really going on: the establishment which currently own the leadership of the Dems and GOP are cutting deals to grow government for their own purposes while we all are shit on. So in my mind, the Rothchild bitch can just shut the fuck up as she and hers have been pimping nations through predatory banking practices for centuries and this so-called Prince is just one of her little whores.

QFT. We have never tried capitalism. We have had either crony capitalism or a twisted combination of social capitalism. There is no truly free market anywhere.

I'd say that in the West we have tried it - not only tried it, but seen it, done it and bought the T Shirt - from the dawn of the industrial revolution onwards.

  And where has this 250 year old brave new world led us ?  It has proliferated across national boundaries to bring about a situation whereby 85 people own a half of planet Earth.

   85 people.

  

bankers and wealthy people will argue that the free market decided that it wanted to hand all the power over to them.. maybe not as direct, but still. they have lobbied for deregulation to make the playing ground uneven in their favor.

It's great to see people aspiring for a free market. The problem is that it never lasts and ends like in the oil, steel and train transportation market on the America of the XIX century: monopolies.

Without regulations there can be no free market that lasts. The big fish eats the small ones and then abuses the workers, the consumers, the environment, the raw materials, etc. Freedom at its best.

People will always find a way to exploit the system, be it capitalism, socialism or Darwinism.

that's what i keep trying to tell anarcho-capitalists, but they won't have any of it.

That's why there shouldn't be a system. Voluntary participation in communal programmes is the way forward, decentralisation to the point of the individual, kinda like bitcoin.


There's no such a thing as anarcho-capitalism, it's an oxymoron. Capitalism needs the state, thus there's no anarchy.

capitalism is a very wide ranging word. capitalism does not need a state; it's about free trade and competition, at least to me and many other people. http://en.wikipedia.org/wiki/Anarcho-capitalism