There's a bit of a forum going on over at "The Nation" about how Socialism could be introduced in the face of the new economic constellations created by Capitalism in the last 20 years or so.

Here's one very interesting take, and there are a few more below it:

http://www.thenation.com/doc/2009032...r?rel=hp_picks

Otherwise, anybody got any good ideas?

MsG

An unusually well thought out article, for someone who confesses to be a socialist.

However, the fact is that there is no such thing as modern socialism. Socialism is a century old mistake that that has been disproved repeatedly. Marx was correct when he said that you could only have socialism once you had solved the crisis of production. What he failed to understand was that there is no limit to the things people want; so we will never solve the crisis of production.

Great article, as is often the case with "The Nation." I am afraid that capitalism may be in its death throes, but I don't say this with any joy, as ordinary people around me are losing their jobs, with no prospect of reemployment, their homes, their savings. It is not the elite who are suffering - do they ever? As a social democrat - the answer should have been in tightly regulated capitalism - with much of its proceeds used to support a viable and strong social safety net, but that was not the case.

Can socialism on its own truly work, especially on a massive scale? Don't know, but something will need to fill in the vacuum left by this corrupt and selfish economic system.

Originally Posted by KevinB

I am afraid that capitalism may be in its death throes,

No it isn't. Worry less, there is no socialism.

MSR

Originally Posted by msr

Originally Posted by KevinB

I am afraid that capitalism may be in its death throes,

No it isn't. Worry less, there is no socialism.

MSR

Have to disagree with you there, MSR - unless the elites just use it as an excuse to make us all economic serfs in their 'New World Order', which is possible.

The problem with Capitalism is not that there's not enough money to go around, there is. Most Capitalist countries are awash with it. But those few at the top are intent on amassing as much of it as they can and thus there's not enough in circulation.

There's always this talk about "the trickle-down effect", well why not try a "trickle-up effect"? Pay the workers extravagantly and everybody will profit; not the least folks being the bosses, who'll genuinely be able to claim a bonus because of the increase in general trade caused by folks having more disposable income.

MsG

In my opinion, taken to their extremes both systems are unworkable. The solution is probably somewhere in between...

Originally Posted by Bugsy

The problem with Capitalism is not that there's not enough money to go around, there is. Most Capitalist countries are awash with it. But those few at the top are intent on amassing as much of it as they can and thus there's not enough in circulation.

There's always this talk about "the trickle-down effect", well why not try a "trickle-up effect"? Pay the workers extravagantly and everybody will profit; not the least folks being the bosses, who'll genuinely be able to claim a bonus because of the increase in general trade caused by folks having more disposable income.

MsG

Is the whole basis of capitalist economic theory - limited resources, unlimited needs (wants?)

I agree with what you are saying - it is like when people become so agitated over 'redistribution of wealth.' What they don't seem to understand is that their wealth is being redistributed - upwards.

Originally Posted by Domovoy

In my opinion, taken to their extremes both systems are unworkable. The solution is probably somewhere in between...

Maybe - a reform of the capitalist system so it is tightly controlled and its profits do not benefit just a few but all of society.

Originally Posted by Bugsy

There's always this talk about "the trickle-down effect", well why not try a "trickle-up effect"? Pay the workers extravagantly and everybody will profit; not the least folks being the bosses, who'll genuinely be able to claim a bonus because of the increase in general trade caused by folks having more disposable income.

Not a new idea:

From http://en.wikipedia.org/wiki/Henry_Ford

“When Ford started the 40-hour work week and a minimum wage he was criticized by other industrialists and by Wall Street. He proved, however, that paying people more would enable Ford workers to afford the cars they were producing and be good for the economy. Ford explained the change in part of the "Wages" chapter of My Life and Work.[18] He labeled the increased compensation as profit-sharing rather than wages.�