Given the economic climate, strong advocates of capitalism are scratching their heads to explain how the perfect economic system is becoming increasingly an afterthought for some of the most advanced industrialized nations. Europe has already begun to socialize most of its industries. America's brother up north, Canada, has always had a government-run health care system. These so called socialists experiments are not the ones that created the financial crisis. The capitalist's unguided hand did. Government regulation could have prevented the financial turmoil. If you must choose between either two economic systems, socialism would be your way to go.
Capitalism is expansive. Once it capitalizes a particular resource and it depletes, the system inherently pushes itself outwards to earn additional profits. While the price of the resource changes according to its location, Americans should not be surprised to ear that some of its swine comes from Canada and Mexico. Lumber is also a resource heavily extracted from Canada. There is lumber in the United States but because there is more wood in Canada, Americans purchase cheaper Canadian wood. But the resource itself will deplete in Canada, and eventually these companies will need to expand, possibly in Europe, to continue to sell their lumber. It's that equilibrium. When there is a lot of a resource, the price of the product is inherently lower and vice versa. But what happens if the product disappears? Trees are an important resource that we cannot lose.
Capitalism is expansive but how much do we really need? Do we need to have all of those barbecues or TVs? Companies have to find a way to sell you a product. Take the TV. We moved from the big box-y kind to the flat and small kind. Granted, the products have become much more sophisticated but also very expensive. The resources required to even produce these items deplete the environment and is waste for consumers. But that is the only way companies can survive. That's why Apple continues to create different Ipods every year.
Capitalist expansion hits poorer nations the hardest. Because of previous trades, contracts and treaties, African countries do not reap the rewards from the resources they extract to sell to countries in the global north. While corporations may enact their ''fair trade'' policy, it is still not enough to quell the economic pressures African nations must face. They have debts that supersede the budgets of the most advanced nations of the global north. They also fail to compete economically at the international level. Worst of all, during conflicts like the one in Sudan, companies greedily aid opposing groups to maintain trade. Oil companies, it can be argued, are exacerbating the problems in Sudan by working with warlords to extract oil. Western countries have notably demanded that their oil companies remove significant ties in Sudan. But many are still maintaining ties with warlords who are violating marginalized group's human rights. Exxonmobil anyone? But that's capitalism!
Anything can be capitalized! Sex is capitalized. The pornographic industry makes more money than Hollywood. In Nicola Simpsons work Coming attractions: A comparative history of the Hollywood studio system and the porn business, she noted that in 2002, it was estimated that porn generated more than 57 billion dollars in revenue and 12 billion dollars in the United States. One's lack of dignity can be capitalized. Millions of people are willing to compromise their lives and their dignity on reality shows just for a million dollars. Health, what we need to survive, is capitalized. One would think that the last that they need is to pay for their good health, which is predominantly a necessity of life. But that is also capitalized. Europeans are willing to pay more taxes for better health, but rather, in a country that toots capitalism, we rather pay 600$ for a stupid television. What we fail to understand is that when things go bad, much like the financial crisis, and we no longer have that money to pay for our health. We inherently forget the necessity of life. If health care was government-run, when things go bad, you may not have your TV but at least you will have your health.
Let us not forget that while sex, one's dignity and health can be capitalized, many people outside of the United States are painfully paying for the price of capitalism. We forget about those young children in China who are forced to make shoes so that we can all wear those comfortable Nike's. We forget about the war in Sierra Leone over diamonds just so that rappers can flash their diamond studded cups or for women to justify an alliance that has a 50% chance of survival. We are even willing to fish out women from third world countries who will take care of our home for a little price. We literally undermine immigration policies so that we can be satisfied. For what? Money!
Capitalism means a profit which also means money. Capitalism is not all that bad. We need money to survive, to eat, and to enjoy our lives. But a pure capitalist economic system is a recipe for disaster. Necessities such as life cannot be bought or even sold. When do we say enough when capitalism endangers lives? Socialism would assure that even those auto plant workers have another income as they seek for another job. They will be taken care of once they get sick. Socialism is really an economic system that allows people a safety cushion when things get bad. It is not inherently a welfare system because it cannot work unless everybody works. But socialism understands that the world is not perfect. The motor will not keep turning; it can break down. Socialism is really a tool to repair parts of the motor so that it keeps turning. Its not delusional!