Does the current economic turmoil prove that a capitalist society is unsustainable?

Question

Would the world benefit from the removal of money (as a currency) and the boom bust economic cycle that seems to be a direct consequence of capitailism. where everyone worked for (and together) for the common cause and to the benefit of the human race.

1) I know the Q sounds a bit corny.

2) I don't offer an alternative to money just the debate if money was removed from society.

Answer 1

I am agreeing with Bob...  If we were back in a capitalistic society then we would not have the economic problems we currently have.

Answer 2

Ahhh ... sorry.  I've got no desire to live in a Socialist society!

Capitalism is not unsustainable.  But it IS always subject to ups and downs.

It's a concern right now because we're in a BIG down, but that has happened before and the economy does recover.

If money were removed as currency, something else (beads, rocks, plastic bags) would take its place.  That has been true from the earliest times.

Answer 3

Hardly.  The current government rejected capitalism for disguised socialism.  If Gordon Brown had stolen so much money from consumers and business and hamstrung everyone with mountains of regulation, there wouldn't be such a problem.

The economic cycle is linked to general elections.  Does that mean we should abandon democracy?

The truth is whilst capitalism and democracy have their flaws, they are better than the alternatives.  All other systems promote sloth over enterprise and encourage corruption.

Answer 4

Peaks and troughs it has to be that way otherwise we would be living in a communist state. Where money had no meaning. I said had because many of these communist states realise that communism is unworkable in a modern day society as everyone wants their bite of the cherry so to speak. However, some of these commmunist states are being run soley by their own Mafioso and so the masses still do not get a fair bite of the cherry.

As far as currency is concerned bartering is not now working in some third world countries. No modern day progress has cememented the need for currency in all four corners of the globe. With the high demand for food and big hike in  food prices...it is going to open a can of worms on the currency market you wait and see.

You see man cannot live on bread alone anymore.

Answer 5

No single ideology is sustainable. If we all lived in some socialist utopia the system would be exploited by some people refusing to contribute and just taking from those who do. This would lead topeople being forced to work. This will lead to masses of red tape and possible forced Labour Camps, as in Socialist Russia.

Similarly, naked capitalism will always lead to repression and thus rebellion, or will lead to expansionism leading to conflict and war.

Neither are sustainable in the long term. The whole system needs enough checks and balances to stop oppression and enough freedom to encourage competition and enterprise.

Answer 6

First we are not a capitalist society.  WE are a democracy.

which gives everyone choice.  The barter system sounds nice but what if no one has what you want or what your selling.  Money is the only way to function.

We have a mixed Capital Society. their is some socialism in our economy.  get an economics book and read about the difference.

Answer 7

Remove money form society? and return to a barter system? That's really smart.

Answer 8

The biggest problem here is the assumption that people aren't selfish and would work for a common cause to benefit the human race.

People are innately selfish. It's nothing to be ashamed of because it's a survival mechanism. We wouldn't have come out on top of the food pyramid if we weren't somewhat selfish by nature. Capitalism is in harmony with survival of the fittest and human nature. We would have to reverse engineer human beings to make your scenario work. Rather than scrapping the entire system, let's just make minor improvements to the one we have.