But doesn’t work for most Asians, Africans and South Americans?
Could the fault possibly lie with the markets?
I say it’s the system, capitalism itself. The so called ‘free market’ is a lie and a hoax.
Capitalism needs exploitation, it’s built on it. The third world is capitalism’s dirty secret but they are the overwhelming majority of humanity.
* Almost half the world — over 3 billion people — live on less than $2.50 a day.
* The GDP (Gross Domestic Product) of the 41 Heavily Indebted Poor Countries (567 million people) is less than the wealth of the world’s 7 richest people combined.
* Nearly a billion people entered the 21st century unable to read a book or sign their names.
* Less than one per cent of what the world spent every year on weapons was needed to put every child into school by the year 2000 and yet it didn’t happen.
* 1 billion children live in poverty (1 in 2 children in the world). 640 million live without adequate shelter, 400 million have no access to safe water, 270 million have no access to health services. 10.6 million died in 2003 before they reached the age of 5 (or roughly 29,000 children per day).
EDIT almost forgot.
‘All property relations in the past have continually been subject
to historical change consequent upon the change in historical
The French Revolution, for example, abolished feudal property in favour of bourgeois property.
The distinguishing feature of Communism is not the abolition of property generally, but the abolition of bourgeois property. But modern bourgeois private property’s the final and most completeexpression of the system of producing and appropriating products that is based on class antagonisms, on the exploitation of the many by the few…
You are horrified at our intending to do away with private property.
But in your existing society private property is already done away with for nine-tenths of the population; its existence for the few is solely due to its non-existence in the hands of those nine-tenths. You reproach us, therefore, with intending to do away with a form of property, the necessary condition for whose existence is the non-existence of any property for the immense majority of society.”
The above numbers (the first part) are from the world bank. The second is an exert from the communist manifesto. Was Rosa Parks an extremist for her refusal to get up in that bus? Was Karl Marx an extremist for calling to abolish capitalism? I think the answer is the same.
You will see the free markets and capitalism does not work for countries with weak governments and no rule of law. You need strong governments to enforce the rule of law especially for contracts. Also, capitalism requires some public goods like roads and other infrastructure to grow and good educational systems to provide good workers.
Easy Mrs. Hotpink.
On paper, “free market” sounds good. In practice, there is no such thing.
We have “socialism for the rich, and a free for all for the working class” .
As you can painfully see from the recession, in an advanced capitalist state the ruling class on behalf of the Oligarchy like to “capitalize the profits, and socialize the losses” with YOUR money.
That is one reason they stay on top.
Imperialism has also raped the resources of other countries.
When someone says capitalism, they are usually only referring to the LEGAL side of it. All capitalism is, is a race to the top, and one in which you get to the top through any means necessary [this also applies to staying at the top]. War , is essentially a part of capitalism, as it thievery. It’s like creating a game, setting the rules, and telling everyone playing that have a greater chance than they actually do
Because that’s what happens to free markets is money concentrates at the top.
That’s why the rich are always advocating for free markets because they want more money coming their way and free market forces want more money coming there way too.
The “free” markets work for the wealthy corporations. They just don’t work for the people in those countries because they don’t have education, infrastructure, good government etc. And their rich natural resources are being raided by the corporations that are doing extremely well.
It’s cultural. Western culture is based on laws so western society has come to respect that law and follow common agreements and ethics. Capitalism needs those laws and common agreements and ethics to function properly.
Those who force the system on others ie. the US. free marketeers keep ahold of the profits, or they used to, till their house of cards came a tumbling down.
“Free” Markets don’t work for ANYBODY in reality!!!
That’s just exaggerated when applied to countries that have already been exploited by “richer” countries.
But even in ‘rich’ countries… markets are controlled because its been PROVEN to cause lots of difficulties.
I know for sure that the black market thrives under communist oligarchs