My leftist friends like to claim that capitalism needs conflict to create juicy profits. I counter that zero-sum pre- or post-capitalist systems need conflict a lot more. Capitalism in contrast likes peace, because that reduces the cost of capital, which is crucial. You don't need to steal from your neighbor if you can get rich by creating stuff.
Perhaps an amendment: War profiteers need conflict to create juicy profits and soaring share capital growth if you've seen the stocks of the defence contractors. The US's forever war is indeed fuelled by the 52% of non discretionary spending that goes to that Orwellian termed 'Defence'. All growth in the US has mirrored government spending on Defence, the greatest example of Keynesian economics there is. As US Marine Smedley Butler once said, 'War is a racket.'
My leftist friends like to claim that capitalism needs conflict to create juicy profits. I counter that zero-sum pre- or post-capitalist systems need conflict a lot more. Capitalism in contrast likes peace, because that reduces the cost of capital, which is crucial. You don't need to steal from your neighbor if you can get rich by creating stuff.
So true...
Perhaps an amendment: War profiteers need conflict to create juicy profits and soaring share capital growth if you've seen the stocks of the defence contractors. The US's forever war is indeed fuelled by the 52% of non discretionary spending that goes to that Orwellian termed 'Defence'. All growth in the US has mirrored government spending on Defence, the greatest example of Keynesian economics there is. As US Marine Smedley Butler once said, 'War is a racket.'
Agreed, but rent-seeking and big-business welfare wasn't exactly what I had in mind when I was talking about the positives of capitalism