Recommend
2 
 Thumb up
 Hide
7 Posts

BoardGameGeek» Forums » Everything Else » Religion, Sex, and Politics

Subject: The History of Capitalism rss

Your Tags: Add tags
Popular Tags: [View All]
James Webb Space Telescope in 2018!
United States
Utah
flag msg tools
Avatar
mb
Very interesting program on the history of capitalism. Wish they had a transcript - I would post some excerpts

http://onpoint.wbur.org/2013/04/10/capitalism
2 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
James Webb Space Telescope in 2018!
United States
Utah
flag msg tools
Avatar
mb
Not much interest? You guys really should check it out

A Second Look At Capitalism
A big second look at capitalism. How it’s worked over time. How it hasn’t. And whether it’s run its course.

"Capitalism Works for Me!" by Steve Lambert (Flickr, SPACES Cleveland)
“Capitalism Works for Me!” by Steve Lambert (SPACES Cleveland/Flickr)

For decades in the Cold War and before, the American conversation on capitalism was pretty well frozen. What do you want? Capitalism or Joseph Stalin? Capitalism or Cuba? Then the Cold War ended and capitalism got the field pretty much to itself.

Off came the regulations and on came some high times, then, eventually, the crash, the Great Recession. And all kinds of questions.

A new generation of thinkers is looking hard at capitalism again. Where it’s been. What it’s become. How it’s working – or not.

This hour, On Point: a big second look at almighty capitalism.
1 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Walt
United States
Orange County
California
flag msg tools
Before terraforming Mars, Surviving Mars is required: Paradox Interactive; Steam.
badge
Please contact me about board gaming in Orange County.
Avatar
mbmbmbmbmb
I did. They started around 1800 if I recall correctly. That's around the time of the economic meaning of Liberalism, moving control of capital from governments (especially monarchies) to individuals. They continue through the uncontrolled robber-baron period to the Great Depression and the regulations that were put in force to prevent its repetition. And on to the present.

Quote:
Off came the regulations and on came some high times, then, eventually, the crash, the Great Recession. And all kinds of questions.

Which is basically The Tragedy of the Unregulated Commons. (Garrett Hardin, author of the paper, The Tragedy of the Commons, has spoken very strongly that it's the unregulated nature of the Commons that's the problem, and his paper should have had that word in the title.) The economy is a Commons, and it needs regulation to prevent one person from destroying the Commons for his own profit, hurting the rest of society. For example, we have laws against robbing banks.

I had an interesting conversation with a friend, a dyed in the wool laissez-faire capitalist, about the 2007 financial crisis (summarized):
Him: Government regulation caused the financial crisis.
Me: I think the financial company executives were pretty much making decisions free of regulation.
Him: They ought to be held responsible and go to jail.
Me: So, you want the government to come in and fix the problem?
Him: <blink, blink>
2 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Alaren
United States
flag msg tools
Turtle Power
badge
all the way down
Avatar
mb
Tall_Walt wrote:

I had an interesting conversation with a friend, a dyed in the wool laissez-faire capitalist, about the 2007 financial crisis (summarized):
Him: Government regulation caused the financial crisis.
Me: I think the financial company executives were pretty much making decisions free of regulation.
Him: They ought to be held responsible and go to jail.
Me: So, you want the government to come in and fix the problem?
Him: <blink, blink>


Yeah, that sort of inconsistency definitely goes both ways.



Incidentally, your claim that "the financial company executives were pretty much making decisions free of regulation" was totally wrong. For years, the argument hasn't really been about whether we should have regulation or not. It's been about whether more regulation can fix the problems we created with other regulation in the first place. Some people think, "if this regulation causes a problem, we should remove it." Other people think, "if this regulation causes a problem, we should fix that with more regulation!"

One of these approaches results in an obfuscatory, bloated, and costly legal system. Can you guess which?
 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Walt
United States
Orange County
California
flag msg tools
Before terraforming Mars, Surviving Mars is required: Paradox Interactive; Steam.
badge
Please contact me about board gaming in Orange County.
Avatar
mbmbmbmbmb
Disagree.
False dilemma.
 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
フィル
Australia
Ashfield
NSW
flag msg tools
designer
badge
I've got an 808 and a 303 and a record collection like the ABC
Avatar
mbmbmbmbmb
You're claiming that too much regulation led to the GFC?
 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Front Page | Welcome | Contact | Privacy Policy | Terms of Service | Advertise | Support BGG | Feeds RSS
Geekdo, BoardGameGeek, the Geekdo logo, and the BoardGameGeek logo are trademarks of BoardGameGeek, LLC.