The truth is that Capitalism is the only economic system in which someone who is dirt poor can become a billionaire while someone who is a billionaire can end up dirt poor. It’s really revolutionary in a sense. Free market has its drawbacks. Hell it’s even self-destructive at times, but the ability for the rich to be held accountable and the poor to run the rich out of business because he/she has a better idea.
Now with the ideology, the idea to topple giants is great, but for the past 40 years, we have stopped becoming a capitalist society and here is why. In 1969, there was a new plane that was introduced to the world. It was called the Boeing 747. This plane allowed for businessmen to go to any corner of the world to do business and it made trade agreements. Now before the 1970′s, there were trade agreements. In the 1950′s, Toyota sold Japanese cars to Americans though not as popular, But by the 1970′s there were three issues that affected and boosted the sales of foreign cars in the United States.
1. There were only four American Car companies left. Ford, GM, AMC and Chrysler.
2. There was an energy crisis that was caused by a Muslim embargo thanks to the US support of Israel.
3. There were more business deals made overseas.
These three issues made it so that the Japanese, German and Italian car companies invaded the US Market (Ironic?) What that did was make a shift in market power. You have an American muscle car. Gets horrible gas mileage, it’s expensive and it doesn’t last long. Then you have a Japanese car. It’s cheaper, more fuel-efficient and it NEVER dies. You can abuse it and never get it serviced and those cars are still around today even with insane mileage.
Now here is the issue back into capitalism. With you as a consumer, you have 2 choices. You can get a cheap, efficient and durable Japanese car or get a shityy American car that is planned to be obsolete after three years. Which one will you chose? The Japanese one obviously. And Most Americans did. It drove AMC out of business and the rest were suffering. The death of Capitalism stems from this because the dying out American car was revived by the US government thanks to corporate lobbying. They made it so we had higher tariffs, laws that make it illegal for the government to use foreign vehicles and limited advertisement rights for imports. Did it work? Yes and it worked even today. American cars are still around and they are still crap. Yet they stand toe to toe with superior cars that never die and never lose performance.
It’s not just automotive. We use old designed M-16 AR’s instead of newer H&K416′s. We use the M9 which is Italian over the M1911, but the 1911 was old anyway. We use American planes, we use American boats (Not ships for some reason), we have banks that are bailed out when they should have failed, we use a lot of things that are American and planned to be obsolete. The reason they last is because of laws that give the rich a safety net. The same way mercantilism used to work. Keep the rich rich and the poor poor. Now I’m not arguing that we should have no regulation. That for one is free enterprise, not free market. All I am saying is that the way things are now, it’s impossible for a new of foreign company to compete when the American company had its golden age.