pull down to refresh
0 sats \ 4 replies \ @Solomonsatoshi 6h \ parent \ on: "Free market capitalism" in America. Are we happy with the results? econ
1- The Opium Trade was not profitable for British and other nations traders who engaged in the trade??? Really? OMG! Please! Get real! FFS!
And the export of tea and porcelain from China that the Opium Trade enabled was not profitable for the British and other traders who were able to do this as a result of the British Empires military force? Really?
Not sure what drugs you are on but they are definitely clouding your thinking.
2- ' "The capital markets of the Netherlands enabled global trade and wealth for the Dutch."
An excellent example of free markets doing their job without government intervention. '
Wrong- it was only with the support of the Dutch government and the consistent ability to make and enforce contracts within the Dutch jurisdiction that the prosperous global trading ventures undertaken by the Dutch merchants were made possible. Capital markets cannot function well without rule of law and property rights provided by consistent governance.
The Dutch government provided the legal framework for free enterprise to prosper. If you knew the history you would understand that at the same time the Spanish royalty would repeatedly renege upon financial undertakings with those providing finance for expeditions of conquest and trade and due to the inconsistency and weakness and corruption within the Spanish government capital supply dried up as investors preferred the superior legal framework provided by the Dutch.
3- As long as it lasted the Spanish plunder of Latin Americas definitely provided significant wealth and societal prosperity for Spain.
It could be argued this is no more plunder than the removal of the Iranian government in the 1950s via the CIA establishing a Shah who would allow US and British exploitation of Iranian oil. This combination of state use of force and private enterprise developed over the following years to create the petrodollar global monetary hegemony and extraordinary privilege of the USD and thus derived and sustained the most wealthy empire in human history...USA.
Free trade is a cute slogan mostly touted by hypocrits who practice nothing of the sort.
To the extent that free trade can exist it must have the context of a legal system that protects and enforces property rights.
The Opium Trade was not profitable for British and other nations traders who engaged in the trade???
Chose one. Now you talk about wealth being generated by trade. Excellent example of actual growth being caused by the absence of government intervention. But then, when you have to reinstate the figure of government intervention, you recur to the image of an "exploited China". If wealth was generated that way, then it was, as you yourself expressed, plunder. If it was not generated that way, then it was, as you yourself expressed, absence of government allowing for the free market to do its job.
Chose One!! Really? OMG! Please! Get real! FFS!
it was only with the support of the Dutch government and the consistent ability to make and enforce contracts
Chose one. Now you talk about thread being generated by enforcement. Excellent example of an empire plundering its vassals. But then, when you have to reinstate the figure of commerce, you recur to the image of trade. If wealth was generated that way, then it was, as you yourself expressed, absence of government allowing for the free market to do its job. If it was not generated that way, then it was, as you yourself expressed, plunder.
Chose One!! Really? OMG! Please! Get real! FFS!
If you knew history, you would stick to history. Instead, you wander about whatever fits the narrative the party imposed upon you in the moment.
reply
1-Plunder is quite simply wealth creation and accumulation.
It is capital raising in the most direct form!
Do you not understand that?
Chinese plunder western manufacturing technology for example.
And they get rich upon it, by combining that plunder with government support of manufacturing sector competitiveness. The early British empire did similar with its pirates raiding Spanish Galleons...who had in turn plundered Latin America.
Its a great way to raise capital if you can get away with it and if your government is stronger than the one you are plundering.
The continuum between what might be called plunder and trade is often proportional to the degree of force one trader can exert of the other and often that force is coming from the first traders government and their military.
2- 'it was only with the support of the Dutch government and the consistent ability to make and enforce contracts'
It is really very simple. Merchants cannot confidently raise capital and embark on trading ventures or manufacturing ventures if there is not a reliable legal system in place with which to enforce those financing, manufacturing and trading contracts.
The Dutch government provided the sound and predictable legal system for a capital raising market to confidently develop and flourish.
The Spanish failed to do that and their empire went into decline.
This is indicative of the fundamental interdependence of free enterprise and government.
The reality is not black or white- it is understood when you grasp the synergies between the different players in the economy- government and enterprise when working together can create huge wealth and opportunity.
Alone and without the other, neither is very productive.
reply
Plunder is quite simply wealth creation and accumulation. It is capital raising in the most direct form!
Enough said. You're clinically retarded.
reply
You fail to credibly refute any of my assertions above.
So you instead concede defeat, by default, in the contest of ideas, by resorting to shoot the messenger avoidance of a fact based reasoned dialogue.
You cannot support your assertions in a reasoned manner - ipso facto - you are an arrogant ideologue peddling baseless assertions and dogma that cannot withstand critical analysis and a good faith contest of ideas.
reply