Tuesday, October 12, 2010

Democracy. and capitalism.


Unlike some though I do not believe capitalism and a decent socialist society are mutually exclusive.
The problem with badly regulated or un-regulated capitalism is the cheats prosper. Capitalism is fine as a means of resource allocation if it is DEMOCRATICALLY regulated to take externalities into account and so people cannot cheat the system.
New Zealander’s as a group have proven to have a pretty good sense of fairness and justice. I think we can be trusted to get it right more often than a self selected group of marginally competent politicians.
Often when some one says the public’s choices are un -informed it is simply because it is not “their choices”.


  1. Kia ora KjT

    Don't you think that inherent unfairness is built within capitalism and that unfairness is opposite to the ideal fairness of socialism. Isn't the whole system inadequately regulated because that is actually how it works best and therefore it won't adjust automatically to any 'fairness' - it's not designed to.

    Anyway just some thoughts - I like your blog.

    Kia kaha

  2. I don't think capitalism has to be unfair. I think it is part of our current system of capitalism because it benefits the ones who are in control.