Capitalism-Socialism-Communism

[Owl]

 

People who live in different countries are subject to their level of development, mentality, national characteristics ...

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I'm wondering what the dear users of this forum mean by the words:

1. Capitalism

2. Socialism

3. Communism

?

[SkyHigh]

Even though definitions have nothing to do with country of origin here you go.

 Capitalism: the ability to create capital through privately owned industry based on individual intellectual property.

Socialism: means of production controled by government, but still compatible with democracy and personal liberty. I.e property rights

Communism: complete control of the economy including all property, and requires revolutionary acts.

Now for definitions of more complex political or economic systems, country of origin can be important. I.e. mixed economy or social democracy, how would you define these terms comrade?

Edited March 17, 2021 by SkyHigh

[psikeyhackr]

This is hilarious.

Is this an endless debate about the economic  future of technological society?

Adam Smith: Download Wealth of Nations, it has been in Project Gutenberg since 2001, and search it for "and account" you will find multiple instances of "read, write and account". Why doesn't the right or the left advocate mandatory accounting/finance in the schools?

Karl Marx: Search Das Kapital for depreciation. Marx mentioned depreciation of money and machinery multiple times. There were no steam trains when Adam Smith died. Marx road in trains and saw machinery that was modern for his time.
But what sophisticated consumer technology was there to depreciate in his day?

In the 1930s John Maynard Keynes was writing about a 15-hour work week for grandchildren. That could have been the 1990s. But did Keynes ever see a television commercial for automobiles? When I went to college for Electrical Engineering the term e-waste did not exist.

Today: Planned obsolescence has been going on for decades. What has happened to the DEPRECIATION of durable consumer goods? How many automobiles have Americans trashed since Sputnik? There were 200,000,000 motor vehicles in the US in 1994.

Economists: Do not mention NDP, Net Domestic Product. They subtract the depreciation of Capital Goods from GDP like industrial robots and 18-wheel trucks but Joe Blow's car can fall apart and not get noticed. Can economists tell the difference between a banana and an air conditioner?

NDP = GDP - Dcap (official economic delusion)
NDP = GDP - (Dcap + Dcon)   (reality)

Dcap == Depreciation of Capital Goods
Dcon == Depreciation of Durable Consumer Goods

GDP == Grossly Distorted Propaganda

I guess intellectuals and pseudo-intellectuals cannot figure out that economists cannot do algebra.

Science Fiction: Daemon & Freedom by Daniel Suarez

[psikeyhackr]

Capitalism: An economic power game designed and evolved by Europeans where natural ignorance helped keep the peons down in the bad old days. But 700 year old double-entry accounting could have been mandatory in the schools since WWII but our brilliant economists manage to not suggest the possibility and planned obsolescence got added to the mix.

Engineers could design fighter planes in the late 1930s and early 40s to do 400 mph but we need to keep redesigning cars that roll along the ground at less than 120 mph.

Socialism: A political economic delusion where every pseudo-intellectual who thinks he is as intelligent as Karl Marx gets a say.

Communism: A utopian economic delusion created by a man who never drove a car. I do wonder how well he could explain a triple-expansion steam engine.

I asked a PhD economist from the University of Chicago to explain how an automobile engine worked. He couldn't even start but he drove a white SUV.