Re: Has capitalism run amok?

Where is capitalism failing today?


Capitalism is functioning within the given institutional structure, which includes tax laws, labor laws, government spending decisions, contract law, etc.

 

What needs to change in the system?

The system changes continually with changes in the application of the institutional structure and with the advancement of knowledge on how to use any given structure.

Currently, we have a floating exchange rate system in place, which is capable of sustaining full employment and price stability.  This is a major advancement over the previous gold standard, which necessarily resulted in periodic recessions and depressions and allocated real resources to the production and accumulation of gold.

However, we continue to fail to recognize how to sustain sufficient demand for full employment and we fail to utilize techniques of government spending that will promote price stability; so, the promise of floating exchange rates has yet to be realized.

​There are two kinds of failure – but only one is honorable

Malcolm Gladwell teaches "Get over yourself and get to work" for Big Think Edge.

Big Think Edge
  • Learn to recognize failure and know the big difference between panicking and choking.
  • At Big Think Edge, Malcolm Gladwell teaches how to check your inner critic and get clear on what failure is.
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Why are so many objects in space shaped like discs?

It's one of the most consistent patterns in the unviverse. What causes it?

Videos
  • Spinning discs are everywhere – just look at our solar system, the rings of Saturn, and all the spiral galaxies in the universe.
  • Spinning discs are the result of two things: The force of gravity and a phenomenon in physics called the conservation of angular momentum.
  • Gravity brings matter together; the closer the matter gets, the more it accelerates – much like an ice skater who spins faster and faster the closer their arms get to their body. Then, this spinning cloud collapses due to up and down and diagonal collisions that cancel each other out until the only motion they have in common is the spin – and voila: A flat disc.

This is the best (and simplest) world map of religions

Both panoramic and detailed, this infographic manages to show both the size and distribution of world religions.

(c) CLO / Carrie Osgood
Strange Maps
  • At a glance, this map shows both the size and distribution of world religions.
  • See how religions mix at both national and regional level.
  • There's one country in the Americas without a Christian majority – which?
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Photo by Alina Grubnyak on Unsplash
Mind & Brain

Do human beings have a magnetic sense? Biologists know other animals do. They think it helps creatures including bees, turtles and birds navigate through the world.

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