May 10th, 2010, 06:34 AM
The problem with blaming capitalism is you are blaming something disguised as capitalism for everything when the actual case is that all those things, (speculation, futures, market shares, et al) are not the true meaning of capitalism as it was meant to be.
Capitalism should be trading value for value. Things like speculation, futures, stocks, and the like are not true capitalism, where person A has a tangible thing person B needs and person A makes the best quality of that thing available. That was how it was once long long ago and when it was that way, America did nothing but grow, it wasn't until the stock market was introduced that these intangible financial crises began to appear. Before that, it was all about real events effecting the market (like Blasted mentioned, shortages, war, etc).
Real capitalism does not exist any more so the argument that capitalism is a failed system can't be truly proven by any event in the last century
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