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Explain Capitalism in a sentence

Posted: Tue Oct 21, 2014 8:42 am
by GN912457
Just wondering as many people that start talking about economics or the economy they very rarely give me a decient answer, so I thought maybe people could have their say and we see where we end up. I am going to be really simple and leave it others if they want to be more complicated.
Capitalism: That all value derives from or in conjunction of either Land, Labour and Capital.

That's very short actually but please can any other people put their view forward

Re: Explain Capitalism in a sentence

Posted: Tue Oct 21, 2014 11:51 am
by EconoD
Can I have a few attempts?

1) It's a game we play (like it or not, there are people with guns who will make you play); where we pretend everything can be turned into capital, even people, and we all fight by fair means or foul to get the most of it?

We also pretend that to have the most capital is to have the best life, more capital = better life, you can never have enough capital.

The later and lower down you are born into the game, the less chance you have of winning.

When only a few people own all the capital, that's the end of the game. Then we start a new one, feudalism, fascism, communism or maybe someone comes up with a new one? :D

2) It's a divisive system, created and perpetuated by a group of powerful, intelligent egos who are trying to satisfy their primitive Id urges by appealing to the super-ego aspiration of the greatest good for society?

3) It's an illusion to distract you from the fact that you are the divine?

Your serve. ;)

Regards,
EconoD

Re: Explain Capitalism in a sentence

Posted: Tue Oct 21, 2014 6:17 pm
by GN912457
HaHa, but you could use those to explain any system.
As for people want more and more capital, while I love going out and getting proper capital that help me do my job like a welder or if I had more money a JCB (other brands of digger are available). My wife prefers me buying luxuries.
As for everything will be capital, I am not a neo con or neoclassical economist as I said all value comes form Land, Labour and Capital and the current status quo done in the name of capitalism has me reeling and probably has Adam Smith turning over in his grave.

Re: Explain Capitalism in a sentence

Posted: Tue Oct 21, 2014 6:32 pm
by EconoD
I think we're well into a state of a planned economy (by the central banks), capitalism is dying, not sure if it ever had a proper turn within our monetary system? When trillions are printed to prop up private banking institutions and corporations and even the tax payers money used to back and buy houses (as in the UK) the idea of a free market, one of the underpinnings of capitalism, is gone, but was it ever there is the question?

Re: Explain Capitalism in a sentence

Posted: Wed Oct 22, 2014 9:18 am
by GN912457
I could not agree more we have totally screwed everything, I think Capitalism did exist once it was when people didn't think to much about and Gold meant that Governments and Banks had to be honest or go broke that simple. Now with the belief that there is only Capital, Labour and IOU's we have just spent 60 years plus totally misallocating resources and now the so called Communist countries understand Capitalism more than we do.

Re: Explain Capitalism in a sentence

Posted: Wed Oct 22, 2014 7:51 pm
by Knooot
Capitalism is the belief in the process of using money buy something specifically in order to sell it again to realize a financial profit, as a basis for society.

Re: Explain Capitalism in a sentence

Posted: Thu Oct 23, 2014 9:09 am
by GN912457
Nice one Knoot, the only thing money is a means of exchange and can exist in any system and capitalism can exist without money so barter system of trading Camels and Goats. The Key getting more value than you did before.

Re: Explain Capitalism in a sentence

Posted: Mon Oct 27, 2014 1:11 pm
by Knooot
I see what you mean GN912457, good point.

Maybe 'Capitalism is the belief in the process of acquisition of goods or services, specifically in order to sell them again to realize profit, as a basis for society' would be better!

Re: Explain Capitalism in a sentence

Posted: Mon Oct 27, 2014 1:36 pm
by Knooot
Hm, can't edit post but think sell is not the best definition.