Forum Post: Capitalism, at best, is just one means to freedom and prosperity – not an end in itself

Determined to create a more just, equitable, and livable society we, the people, can and should regulate based on the peoples best interest. More lateral wealth creation & facilitation of peoples collective decision making on markets should be pursued. Renewable energy, for example, could be cultivated and sold by people allowing people self-sufficiency and sparking innovation.

Not just because of a cherished narrow definition of national interest, but on the sovereignty of a lateral people-based system.

Any working market order requires there to be some way of marrying savings with the desire to borrow; a market for investible funds and some way of insuring against the vicissitudes of life as well, of course, as a better way of keeping ready cash than storing it under the mattress. But nothing justifies the threat posed by masses of invented money to institution after institution and country after country.

Improvement here may justify not merely international regulation but the retention for quite a long time in public ownership of banks and other institutions that have had to be rescued by government. The real shortcoming is that the financial sector and its activities proved it can undermine the capitalist order even if there were no overt inflation or deflation of consumer prices.

People should determine who and how a finite amount of investment funds are to be allocated to everyone when it comes to inventing new renewable energy products or discovering low-cost methods of production.

There are numerous ways in which capitalism can be corrupted by cronyism. These include old-fashioned monopoly; Russian-type capitalism symbolized by oligarchs who have gained control over natural resources; khaki capitalism in states dominated by the military and narco-capitalism based on dealings in illicit drugs. There is, however, no need to say that these are not “real capitalism” or to claim a Conservative patent on the genuine variety. Competitive capitalism should still exist in that it promotes personal and political freedom.

A businessperson outside the financial sector can prosper by providing what adults wish to have – even if that is pop music, cigarettes or nude shows rather than what their supposed elders and ‘betters’ think is good for them.

Above all, the individual is free to use his abilities in line with his or her own choices. He or she can concentrate on personal pleasure, social service at home, the relief of poverty abroad or any combination of these and other activities.

We need to challenge ourselves to help determine what should be produced and by what methods.

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