07-15-2015, 10:56 PM
I very strongly disagree that the current system is capitalism. Some better descriptive words would be Cronyism, Corporatism, Fascism. There's very little innovation going on in the world because large corporations destroy innovation if it threatens their bottom line, and the regulators are captured and bought and paid for..
When the financial system crashes in the near term, I would expect that all the existing economic structures will go away since there won't be any money to support them as they all run on massive deficit spending. Non-centrally planned Capitalism will be the only thing left out of necessity, as nothing else can work. People who can figure out how to build a better mousetrap will be very important, and making sure those folks are incentivized for that innovation is very important.
When the financial system crashes in the near term, I would expect that all the existing economic structures will go away since there won't be any money to support them as they all run on massive deficit spending. Non-centrally planned Capitalism will be the only thing left out of necessity, as nothing else can work. People who can figure out how to build a better mousetrap will be very important, and making sure those folks are incentivized for that innovation is very important.
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