Global Capitalism Has Written Off The Human Race | Global Research

Global Capitalism Has Written Off The Human Race | Global Research

 

Economic
theory teaches that free price and profit movements ensure that
capitalism produces the greatest welfare for the greatest number. Losses
indicate economic activities where costs exceed the value of
production, thus investment in these activities is curtailed. Profits
indicate economic activities where the value of output exceeds its cost,
thus investment increases.  Prices indicate the relative scarcity  and
value of inputs and outputs, thus serving to organize production most
efficiently. 

This
theory doesn’t work when the US government socializes cost and
privatizes profits as it has been doing with the Federal Reserve’s
support of “banks too big to fail” and when a handful of financial
institutions have concentrated much economic activity. Subsidized
“private” banks are no different from the former publicly subsidized
socialized industries of Great Britain, France, Italy, and the former
communist countries. The banks have imposed the costs of their
incompetence, greed, and corruption on taxpayers.  Indeed, the
socialized firms in England and France were more efficiently run and
never threatened the national economies, much less the entire world,
with ruin as do the private US “banks too big to fail.”  The English,
French, and communists never had to print $1,000 billion dollars
annually to save a handful of corrupt and incompetent financial
enterprises.

This
only happens in “free market capitalism” where the capitalists, with
the approval of the corrupt US Supreme Court can purchase the
government, which represents them and not the electorate. Thus, the
taxation and money creation powers of government are used to support a
few financial institutions at the expense of the rest of the country.

This is what is meant by “markets are self-regulating.”