Two thoughts about capitalism
You can't be a capitalist only when there are investment profits but then a socialist when you experience losses.
We're not averse to capitalism. But if they used to say, "Workers of the world unite!" then we also say today, "Capitalists of the world, assume your social responsibility!"
I'm intrigued by both of these ideas. The former mainly because I it reminds me of the UK government bailing out failing mortgage lender Northern Rock earlier in the year and the recent US governments intervention in it's own mortgage crisis through support for Fannie Mae and Freddie Mac. Of course I understood the need for the government to ensure that mortgage lenders are able to continue operating for the broader security of the country's economy, but what does frustrate me is the notion of privatised profit and nationalised debt.
The whole system is geared towards increased profits for private enterprise while exposing the nation and in extreme cases, the world (including the overwhelming majority who aren't lucky enough to own shares) to the substantial risks involved in such large scale enterprises. When a company grows so large, it's fate is tied up with the fate of the nation as a whole and it cannot be allowed to sink. essentially creating a protectionist and interventionist society where the profits are privatised and the liability sits with the public. It'll come as no surprise that I find this situation deplorable.
The second quote struck a chord simply because I'm always entertained when people expect capitalists to deliver anything other than profit. Working in the media sector I am often confronted with this idea manifest throughout the culture industry. Capitalists exist to make
money through private enterprise. Perhaps I'm naive but presumably an optimised capitalist endeavour would only exhibit socially responsible behavior when there is profit in the enterprise. This leads to government policy aimed at forcing improved social responsibility within the private sector. Social responsibility within private enterprise (such as minimum wage, environmental concern and safe working conditions for staff) are not products of capitalism and never will be.
Anyway, I'm ranting again... I'll stop now and be back soon with more...