Mudcat Café message #3628913 The Mudcat Café TM
Thread #154579   Message #3628913
Posted By: Stu
29-May-14 - 11:34 AM
Thread Name: BS: Whither now England?
Subject: RE: BS: Whither now England?
Allan: I'm impressed by your faith in the motives of politicians, but think that Salmond et al are way too smart to miss a trick like that; he's been quoted as saying so himself. I'm intrigued as to why you believe Scottish politicians are any less vulnerable to mistakes and egotism than any others?

Musket: Since Smith wrote that around 300 years ago, capitalism has plenty of time to prove itself as an economic system. Setting aside the issues I have with Smith's premise, we now know that the system is deeply flawed. It is incapable of meaningful self-regualtion, relies on unlimited growth despite limited resources, and is exploitative; in fact, to work it needs to exploit both labour and resource.

Of course this means it has to eschew any social responsibilities it has, despite needing a functioning society to sell to. This is what we're seeing now as it becomes obvious that the current system is unequal and unsustainable in the long term. I think capitalism can work if it is subject to regulation to enable it's excesses to be curbed; it can't continue to operate outside the social structure.

Also, I'm guessing that anyone who doesn't want "the wheel of charity" dragging them down is not a very nice person. I'm glad I don't know them.