Sure the west is loosely based on a capitalist model, particularly the US... but a model that is failing on a scale where you can't really class it as true capitalism. It's a perverted version of it, which was the original discussion point.
Except Federberg was talking about perverted SOCIALISM, not perverted capitalism
What we have now can no longer be called capitalism, it's some perversion of socialism, but the subsidies go to the wealthy
Imo btw this debate can go on forever, I'm more on the side of those who are saying it's crony capitalism or cleptocracy......imo it's kinda catching at straws saying nationalising the banks (in the UK!, when in his "perversion of socialism" post Federberg was babbling about Trump) is even remotely like socialism (even for the rich or whatever), it's more of the capitalist elite defending the capitalist elite corruption stuff.....
Anyway, some fun stuff, hope the Brexiters are gonna enjoy
"The EUROPEAN countries with the highest living standards:
1. Switerland
2. Denmark
3. Germany
4. Sweden
5. Netherlands
6. Finland
7. Norway
8. Ireland
9. Austria
10. BRITAIN
How can the living standards be so low in the country that is 6th WORLD economy?
Why cannot everyone earn proper money and have decent living standards in the UK?
Why are those divisions between the rich and poor maintained in 21st century Britain?
Corporations make enough profit. They don't need all that money. They should be asked by the government to pay more tax as if they were the wealthy giving to charity.
The corporate greed should be stopped, not supported.
Raising national minimum wage, raising corporate tax, closing tax avoidance loopholes is the solution."
"And yet, when the financial system went into meltdown in 2008, it was not expected to stand on its own two feet, or to pull itself up by its bootstraps. Instead, it was saved by the state, becoming Britain's most lavished benefit claimant. More than £1tn of public money was poured into the banks following the financial collapse. The emergency package came with few government-imposed conditions and with little calling to account. "The urge to punish all bankers has gone far enough," declared a piece in the Financial Times just six months after the crisis began. But if there was ever such an "urge" on the part of government, it was never acted on.
In 2012, 2,714 British bankers were paid more than €1m – 12 times as many as any other EU country. When the EU unveiled proposals in 2012 to limit bonuses to either one or two years' salary with the say-so of shareholders, there was fury in the City. Luckily, their friends in high office were there to rescue their bonuses: at the British taxpayers' expense, the Treasury took to the European Court to challenge the proposals. The entire British government demonstrated, not for the first time, that it was one giant lobbying operation for the City of London. Between 2011 and 2013, bank lending fell in more than 80% of Britain's 120 postcode areas, helping to stifle economic recovery. Banks may have been enjoyed state aid on an unprecedented scale, but their bad behaviour just got worse – and yet they suffered no retribution."
DO YOU THINK BB THAT STUFF WILL BE FIXED AFTER BREXIT TO MAKE IT FAIRER FOR THE AVERAGE JOE?????