Actually he is trying to fight fire with fire. His problem is that if he does get new money to do all the national restructuring he wants to do, it will not be nearly enough. Anybody initiating a new business enterprize knows that starting off under-capitalized is a sure-fire recipe for failure.
It is a pity he never got a big enough mandate to do exactly what needs to be done.
As his economic advisor it would tell him to declare an all out war on national poverty. Begin by ordering the Fed to print zillions of new dollars, This would effectively devalue all existing dollars and temporaily neutralize the national debt. It would instruct our creditors to have faith in the American worker and hold onto their devalued dollars. Large Corporations and private firms would be put on war-time production footing and instructed to pour all their resources into a complete make-over of the national infrastructure. Brand new energy grid designed for renewables; Brand new ergonomic vertical cities built outside flood-planes and hurricane alleys. Brand new transportation system. High-rise indoor farming. Free health care and free education for every citizen. Encourage a global stewardship corps of young graduates to travel abroad and help undeveloped nations get up to speed. Ensure full national employment for a thirty year war.
At the end of that time. the new American dollar would be priceless. And ther money once owed would be repaid with compound interest with no harm to anyone.
Socialism failed because people voluntary gave it up, even if it was working fine. Just look at the Kabutz in Israel. There productivity was high and people had enough to eat etc… people slowly started to abandon the idea of socialism because they wanted to own things. In Britain 1945-1980, pretty much all of the main industries were socialsed, the biggest mistake ever, productivity fell and wages went up. It became difficult to control the greed of the workers.
I think that Socialism has it’s place. NASA, Health Care, Subsidised drugs ( those which would cure rare disease ) etc…
Capitalism does not encourage anything, that is it’s main point.
Assuming a fair game that is mathematically impossible.
For me the main problem with Capitalism is marketing, or more its use of psychology. There should be laws preventing companies selling stuff based on self-esteem. They could still advertise but only based on need. At the end of the day though, people need to realise they are responsible for their own lives. People have become too dependent.
“Capitalism” is fairly protean, but it still tends to impart values. Game theory being just one of them. There is also plenty of evidence to show people will choose altruism over selfishness.
I agree, I think that you’re better off being altruistic in long lasting relations. Take the example of bats, they share their food with other bats who for some reason did not manage to get food that night. They only do it on the expectation that they will get some food back if they don’t do well one night.
in the examples of “altruism” given, the “selfless” actions are rewarded thereby making them not selfless at all, but rather investments for future payment.
Well, it could be semantics but I understood that altruism is behavior that is not beneficial to the giver. So if I help you fix your roof, then is that altruism? Even if I expect you someday to help me fix mine.
At least I did not say selfless but “Surely capitalism requires selfish cooperation”