Favored Economic System

[LeeKnopf]

What is your favored economic system? Capitalism, Socialism, Communism, another? Begin debate

[Emperor_Brayden]

I would pick the Keynesian model of capitalism. Keynesian meaning moderate government regulation in order to control unemployment. This includes moderate taxes on the rich to "even the playing field" without completely removing their ability to provide capital to businesses. Also, the government would infuse the economy into activity through government spending in many areas.

This system gets rid of the problems inherent in classical capitalism without running headlong into the rigidity of a socialist/communist planned economy. Of course socialism doesn't have as much planning as communism but the socialist mode still has some rather rigid planning of the economy when talking about whatever industries have been nationalised.

[THenderson]

I must disagree with the Emperor. Classical Capitalism is the best model. The dependence on the free market allows for total response to changes in the market environment. Regulations only hinder growth and recovery. By limiting wages and business activities business is not allowed to properly respond to market changes. Yes, I am saying that the minimum wage is even pointless. It locks businesses into paying workers a wage that is set above the possible market equilibrium level. Finding equilibrium is the only way to ensure stable growth and recovery in the case of market shocks. All trust must be vested in the market in order to prevent constant recession or even depression.

[Schmitty]

I agree with Earl Fenton....for the most part. There must exist a minimum level of governmental protections but in most cases the government goes overboard and puts in place TOO MANY regulation.

[Emperor_Brayden]

I can't agree. There must be sufficient protections in place to prevent market excesses. All I can say about the necessity of market regulations is to look to the Great Depression and our current "Great Recession", both of which are acknowledged to have happened because of a lack of proper regulations and excesses of allowing business to do what is profitable rather than what is right. We need a large number of regulations in place to prevent such market excesses from happening.

[LeeKnopf]

You are both wrong. Socialism is the best. By nationalizing key industries, such as mineral resources and major industries, we can ensure stability. Please don't confuse socialism and communism. I am not advocating the complete nationalization of all businesses, only key industries that are necessary for stability. By nationalizing these industries we can ensure that unruly businesses from unfairly managing the major industries in the nation. The nationalized industries could provide people with low cost goods that everyone needs thus allowing more people to open small businesses and thus increasing their possible income. In conjunction with this there must be sufficient welfare programs in place to ensure that the poor and unemployed don't slide into destitution and instead give them a chance to get back on their feet easily. People must be given a living wage that is high enough to ensure that they are able to adequately provide for themselves and their families.

[Emperor_Brayden]

I wouldn't fully disagree with you except that when you nationalise industry you leave it up to the rigidity of a planned economy. Even if you allow the nationalised businesses to run themselves like a regular business there is always the possibility that the government will step in and impose its will on the business. The market is still the best method of responding to change. I would not be opposed to nationalising certain industries so long as they are guaranteed freedom from government imposed quotas that lead to the rigid problems inherent in communism and other planned economies.

[Dakoda 1st Lord Arlington]

I agree with the emperor

[Mark Williams II]

Oh, hello. I would say that capitalism is best. I agree with Emperor Brayden as well.