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gawell Profile
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Registered: 11-2017
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(Economic or otherwise) Life Cycle


1. Lawless capitalism (until it starts to impede growth)
2. Regulation, law enforcement, and taxes
3. Public benefits and entitlements
4. Overexpenditure and collapse
Like every living thing, it’s born full of vitality and dies once it’s rigid and worn out.

---
You’re cute when you’re angry is not always true.
12/22/2017, 2:05 pm Link to this post PM gawell Blog
 
greendocnowciv Profile
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Re: (Economic or otherwise) Life Cycle


This same life cycle was a Forum start by Paramodern in KAI. I answered and that Forum was then closed by the Mods.

My answer:

"Lawless capitalism"

It was never thus. After we won the Revolution, State laws picked up from where unraveling Brit law from State law started.

We kept almost all of Brit Common law and much else of their law. Much biz was barely regulated compared to today, but it was only lawless in regarding piracy and some other biz that took place in the "wild west." Which was then "indian country" - the current States immediately west of the Eastern Seaboard States.

"Regulation, law enforcement, and taxes"

Until the post civil war period and big initial modern industrial growth leading up to WW I, we had little Fed regulation. It was mostly State, and mostly cartel-like with lots of graft.

Check out the old movie "Mr Smith Goes to Washington" - not the much weaker modern version - to see some hints at the pervasive corruption.

Corruption was barely held in check by State regs, and both State and Fed courts.

"Public benefits and entitlements"

Yes, over time the generic bureaucratic topsy-tumor-like growth has combined with half of our Political world focused on massive Gov expenditures. The non-mil entitlement spending has continuously grown as the mil spending waxes and wanes.

Happily, we are hitting huge tech strides and still have massive biz advantages over much of the rest of the world. This may help us push out of the massively overgrown "US Deep State."

"Overexpenditure and collapse"

Collapse for us has been oft predicted. There is life in the old girl yet.

Last edited by greendocnowciv, 12/24/2017, 6:53 pm
12/24/2017, 6:51 pm Link to this post PM greendocnowciv Blog
 
Extropia DaSilva Profile
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Re: (Economic or otherwise) Life Cycle


Lawless capitalism is a contradiction in terms. For capitalism to be possible you need to commodify resources so that what belonged to nobody becomes property of somebody; you need to commodify obligations so that debt can be quantified and who owes/ is owed what can be calculated and you need to commodify labour so there can be employer/ employee relationships.

All of the above requires rules and laws and inevitably it is the ruling minority (that always precede capitalism in any historical account) who mostly make those rules.
1/2/2018, 5:25 am Link to this post PM Extropia DaSilva Blog
 


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