Capitalism, Corporatism and Fiat Currencies
Free markets that run unimpeded will always have the best outcome for the consumer. Corporatism can ruin these mechanisms by giving unfair advantage to larger companies. This is what happens when your government sells you out to corporations.
Crypto is the first free market in over a century. It is getting some regulation, but is still very much a wild untamed beast. This next phase of growth will be slightly regulated but still very open compared to conventional markets.
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Billions and billions people believe that fiat is the only way. Fortunately after cases such as Venezuela, things are slowly changing. People are realizing how careless our governments are. They are not fixing the problems, they are only taping or temporarily patching the issues by printing fiat and getting us taxpayers into deep s..t of debt including corporations that got used to ruling the world. I think the biggest mistake was creating the federal reserve. But that’s my personal opinion. At the end only the strongest cryptocurrencies will survive, will take over fiat and they all will compete between each other. For example EOS and ETH. No more monopoly!!!
Between the one minute mark to two minute mark you discuss the condition of corporatism and beyond that you elaborate. This was perhaps the most eloquent description of modern economic scenario that I have ever seen on Steemit.
Fiat money.................. perhaps the most skewed marker of value token throughout the history of mankind.
PS: Loved the idea of video recording while driving. Nice to see you in action in you daily life :-)
Corporatism: âThe use of STATE power to enhance & protect the economic & political power of a favored few at the expense of the restâ.
Blurry is the line where capitalism ends & corporatism begins. Mistaken to be 2 branches of the same tree; they are in fact 2 very different trees.
I personally believe the world has been under corporatism for a very long time, perhaps since 1945.
The economic-political order under corporatism only brings inequality, wars, fiat currency and huge monopolies.
We can not understand the full implications of our times if we fail to recognize that Capitalism died a long time ago.
Interesting description of what world we are living in “corporatism”. You are 100% correct. Corporations rule the US, corporations rule the world. Not too long and Amazon, Google and Apple will be 1 trillion dollar companies and all we the regular people have is to celebrate one green day in crypto. Not mentioning the ridiculous valuation when it come to these corporations. Who do you thing mostly invests in these companies. Where all this unlimited money printing goes other than to their pockets? I personally am 100% against monopoly and I believe most of us are. And, as you mentioned, that’s why crypto is created at first, against monopoly and corporatism. With some necessary regulations, crypto will eventually rule, not fiat. Oh yes, fiat shouldn’t be this way, but unfortunately it is controlled 100% by governments. I wonder, how long it will last. Sooner it ends the better.
Corporations exist for the purpose of pooling risk and pooling resources. The first modern corporations emerged in the Netherlands in early modern era. As the Age of Discovery unfolded, entrepreneurs saw opportunity in the vast trade networks that opened up in places like the Americas, Africa and Asia. Demand for fur, tobacco, guns, spices and slaves created an international trade by sea. Merchants tried tapping into markets far away from home. However, it became apparent that there was risk involved as well. One bad day at sea could sink a ship, and destroy the fortune of a merchant. So, to hedge this risk, merchants got together and created joint stock corporations which allows them pool the risk and uncertainty that came from operating an enterprise that spanned across vast distances and risked stormy seas, pirates and the ups and downs of the market. Thus a joint stock corporation could own 30 ships, if a few of them sank (the happening of which was all but inevitable) it would not bankrupt the company as they still owned many others that would be able to make up for the costs..
@investing although ETF's will Screw with things just like they did with Silver and Gold.......
The good thing is that these ETFs will have to prove they own the private keys to the bitcoin. Every coin and every wallet is public. Every coin is accounted for on the blockchain, they can’t just buy paper and absorb demand the same way
I see your Point and let's hope for the BEST !
I dissent, there is a characterized line amongst Capitalism and Corporatism.
Free enterprise is spoken to by the Private Industry.
Corporatism by the Public Traded Industry.
The underlying foundations of private enterprise do exclude "Money STREET" or open exchanged organizations.
Land, Labor, capital period.
Corporatism and "The share trading system" speak to Corporate Socialism.
Industrialist go out on a limb with "Their cash". Industrialist assume full liability for the result.
Corporatism go for broke with OPM and they don't assume liability for disappointment. Actually, they get salvaged.
I manage Capitalist, I am an industrialist and we don't manage any 'Open' cash or Company. We dismiss them constantly.
Presently a genuine industrialist may take his organization open and after that money out.
I can continue forever about the distinction between the two.
The issue is, 99.% of the MBAs, Universities, educate Corporate Socialism. They prepare their Monkeys to take after the yellow block street and not to buck the framework. They don't prepare scholars despite the fact that numerous trust they are the point at which they graduate.
Private enterprise is never again regarded in this nation. Truth be told, the US holds onto Corporate Socialism in general.
Without capitalism there is no innovation, there is no competition , no motivation to get better in business. Competition there is no progress in innovation. Presently a genuine industrialist may take his organization open and after that money out. Presently a genuine industrialist may take his organization open and after that money out.
In Democracy Against Capitalism the Marxist researcher Ellen Meiksins Wood says that the main impetus of private enterprise is the pressing want to aggregate more capital. As we probably am aware, and not simply from Marx, entrepreneur just consumes capital in the desire for benefit, and by and large can be depended on to contribute capital if benefit appears to be likely. In the US, it has dependably been the standard that those with access to capital should control each conceivable road that may prompt benefit. The legislature has dependably been there to give money to help capital, with no pay or avocation to the administration aside from perhaps new employments. For instance, the US gave colossal tracts of land and direct appropriations to the hoodlums and cheats who manufactured US railways. I found out about this from Frank Norris' book The Octopus, yet Railroaded, surveyed here, looks far superior. Furthermore, here's a thoughtful clarification of this gigantic give-away. There's an undeniable inquiry that nobody asks: if railways were so critical, for what reason didn't the legislature simply construct them? In this post I took a gander at Wood's meaning of authentic realism and its utilization in the development of the detachment of legislative issues and financial matters beginning in the medieval times. The remarks include a great deal of interesting point of interest; because of all. What's missing from Wood's talk and from financial aspects for the most part is the inspiration driving this advancement, in particular avarice and aloofness to different people. As the analyst of Railroaded, the antiquarian Michael Kazin, says: The historical backdrop of American private enterprise is loaded down with stories of ventures that overbuilt and overpromised and left liquidations and upset biological communities afterward: gold and silver mining, oil penetrating and atomic power, to give some examples. The railroad aristocrats employed more power than other representatives in the Gilded Age. In any case, their conduct uncovered a quality they imparted to huge numbers of their kindred residents: a lot of was never enough. That still evident, and governments under the two gatherings are as ready as they ever were to give the business people a chance to benefit and to stuff their pockets with appropriations. For instance, take a gander at the Democrats who run Chicago. In 2008, Chicago rented its stopping meters to a gathering of financial specialists headed by Morgan Stanley; speculators today incorporate the riches store of Abu Dhabi and other concealed financial specialists. Chairman Richard Daley consented to a front installment of $1.15 billion to the city. In the a long time since, the meter organization has detailed an aggregate of $778.6 million in incomes. It's poised to make back what it paid the city by 2020, with over 60 long stretches of meter cash still to come. There's the mind boggling story of the city getting ripped off for a huge number of dollars in subordinate exchanges. Chicago as of late offered Amazon over $2 billion to put its new central command here. That enthusiasm to indulge capitat has dependably been a piece of our way of life. Perhaps it could be advocated in a general public stitched in by ware cash and frail budgetary markets, where there may be a few restrictions to the measure of capital accessible for venture. Yet, there is significantly more capital searching for benefits today than there are conceivable ventures. We've quite recently run a tremendous genuine investigation. The Republican assessment charge gave partnerships billions of dollars in tax reductions for cash reserved "seaward" to maintain a strategic distance from charges. The splendid CEOS had no beneficial use for it and offered it to their investors. Here's a case of the measure of capital accessible to squander, electric rental bikes. Quite a bit of that futile capital is utilized in different sorts of direct abuse like payday loaning. Past the verifiable reality of a world inundated with capital, we don't live in a universe of constrained cash. Cash is a product made by the state. It isn't bits of metal, and it isn't constrained by the amount of the metal there is in government vaults. Government can make all it needs and needs. The Republicans just passed a bill cutting US incomes for a long time to come. At that point they passed a bill raising spending. What kind of opinion is that maintaining? Stephanie Kelton clarifies in a brisk and simple prologue to Modern Money Theory. Coming back to the railways, the legislature could have constructed them itself, utilizing a blend of charges, incomes and acquiring. It may have taken longer; and it would have been degenerate however it could never have been as degenerate as it really seemed to be. For what reason didn't that happen? Or on the other hand take a gander at oil. In a few nations, oil is possessed by the State, which utilizes individuals specifically to penetrate and refine, or employs private drillers and refiners. We don't do that. We simply let the business people remove the assets from open land for a little expense which is refunded through sickening tax cuts like consumption recompenses. There was never any defense for the US framework other than the request of the rich and intense for more prominent benefits with absolute apathy to whatever remains of us who are left to tidy up after the liquidations, fakes, dangerous spills, atomic waste and whatever other junk they desert. Business people won't improve society a place, since that isn't productive. Business people trust that they ought to have the capacity to confiscate every one of the benefits from their ventures. The purpose of improving society is that the advantages from that either can't be adapted, or we would prefer not to lose the advantages to the interest for benefit. We needn't bother with business people to improve society and we never did. We simply should have the capacity to control our own particular government, influencing it to work for our shared advantage.
Free enterprise has had unfavorable criticism of late, yet that is because of individuals mixing up it for private enterprise.
I additionally concur with one of the evaluates on the post:
Enterprises are consequence of shitty and voracious individuals utilizing arrangement of Capitalism (which is utilizing their cash-flow to employ specialists and benefit from their laborer's efficiency and not their own, as capital alone doesn't do jack poo, it doesn't make or deliver anything).
How might I concur with both?
Free enterprise loans itself effectively to corporate propensities since it isn't inalienably intentional. Private enterprise is the gathering of capital. This definition can be utilized either in the free market setting, or the corporate setting.
One is capital acquired reasonably, and the other, not.