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Old 10-10-2008, 10:24 AM   #6
Tyrion
nothing is real
 
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Join Date: May 2002
Location: no one I think is in my tree, I mean it must be high or low
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I think the problem is that the end of strict Capitalism does not entail the rise of full-blown Communism. What we're likely to see is a mixed socialistic economy, whereby the markets have a degree of both individualistic choice and governmental oversight.

(FYI: Communism isn't an economic philosophy: it's a social one. Socialism is the economic term for governmental oversight of an economy, usually through regulations and controlling a varying degree of the means of production; a vast majority of countries (even the US, pre-bailout - look at the FDA) have socialistic practices in their economies. Socialism can extend from partial regulation and government ownership of only the essential means of production, as in the US' case with the stock market and energy utility companies as examples, to wholly-governmental controlled economies as in Soviet Russia. )



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