Occupy Wall Street & Capitalism: A Professor's Response

Students: Get a full week of this at an IHS Summer Seminar - http://lrnlbty.co/AC0k2g

The Occupy Wall Street movement expresses valid frustrations, but do the protesters aim their accusations in the wrong direction?

Economics Professor Chris Coyne draws the distinction between crony capitalism and legitimate capitalism. Crony capitalism is government favoritism fueled by handouts and is responsible for the plight of the 99%. Legitimate capitalism, on the other hand, uses competition to align consumer and producer interests and serves to improve everyone's standard of living.

Chris Coyne and Abigail Hall, Be thankful for the makers: http://www2.timesdispatch.com/news/oped/2011/nov/24/tdopin02-coyne-amp-hall-b...

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[IngeniousEpithet]

@HoldingOnToLiberty

As for Fascism... it's a complex mix of ideology, but it is largely regarded by historians to be a RIGHT-WING/AUTHORITARIAN ideology. In many ways it supersedes the right/left divide and asserts complete authoritarian control in general. However, it's ACTUAL beliefs/practices ring more of right-wing than left. Mussolini and Hitler DID do a 180! They started out using socialist rhetoric to gain popularity then completely changed and HUNTED DOWN left-wingers/liberals.

[IngeniousEpithet]

@HoldingOnToLiberty

The right-wing doesn't stand for the constitution. They CLAIM to, but in ACTIONS and SUPPORT they largely do not. Now, I'm not saying that goes for EVERY right-winger, but most of them that I've heard, yes. There are huge cognitive dissonances and ignorances in right-wingers... they simultaneously rail against SOME of the right targets and lament lack of freedom/opportunity... but allow themselves to be misinformed/propagandized to PERPETUATE the very things they hate.

[forttrres]

@HoldingOnToLiberty Sorry, I really don't want to get back into it, I just wanted to add that to the discussion. I get into far too many political discussions lol. Please don't respond to me haha.

[forttrres]

@HoldingOnToLiberty You're making the assumption that all of the Founding Fathers were of the exact same ideals: Hamilton believed in a strong central government, as well as regulation, and Jefferson believed in egalitarianism, but had a different way of going about it then egalitarians of the communist sense. But no, the right-wing aren't objectively fascist as the left-wing aren't objectively communist. Fascism's biggest calling is to nationalism; everything else is second. Not communistic.

[HoldingOnToLiberty]

@IngeniousEpithet Tell me something. If the right-wing in America is Fascist but they stand for everything our founding fathers stand for then were our founding fathers Fascists?

All of the Fascist dictators in Europe started off as Socialists. Look it up. Mussolini was considered one of the Socialist intelligentsia of his time. Did he do a 180 or did he just tweak Socialism? Hitler's political party platform sounds just like the Democrat party platform. Go look it up.

[IngeniousEpithet]

@HoldingOnToLiberty

Umm... that's quite a brash assumption. What NORMALLY happens is governments institute AUSTERITY MEASURES to decrease benefits for the people when they "cannot afford" them. Once again... balanced budgets are key, no matter what sub-system you adopt within a nation-state. Socialism doesn't lead inherently to runaway taxation/spending, nor do deficits necessarily result from "socialist" policies. It's simply about not spending more than you take in.

[IngeniousEpithet]

@HoldingOnToLiberty

Nazism ISN'T Socialism, period.

It is NOT the natural progression from Socialism.

What you're CONFUSING is the battle BETWEEN Socialists and Fascists during the early 20th century. All forms of true Socialism were stomped out by right-wing Fascists... in Nazi, Spain, Paris, and so on. Do your homework please.

[IngeniousEpithet]

@HoldingOnToLiberty

Whatever scale you're talking about is both inaccurate and has no resemblance (as far as its left versus right axis) to the standard conception of left vs. right.

[forttrres]

@HoldingOnToLiberty Haha, that's just a difference of opinion then. I'm not a fan of Reagan, because I disagree with his ideas, but I can see why people of his ideas worship him like they do. I'm not voting though; I don't like any of the GOP, but I refuse to do the whole "enemy of my enemy is my friend" deal. I find that immoral.

I don't like Santorum. I dislike his views on gay rights and abortion, and combine that with the whole free market deal, i'm overall not a fan.

[HoldingOnToLiberty]

@forttrres Wow! I'm very impressed. 18 years old. When I was 18 I was mostly brain-dead. I turned 18 in 1976 and I voted for Jimmy Carter, not because I liked his politics. No, nothing as lofty as that. I voted for him because he was from Ga. and so am I. Now I think Carter was one of the worst presidents, although not a bad as Wilson, FDR and Obama.

Newt is from Ga. and I think he's the worst Repub running, worse than McCain or the Bush's. Santorum is my guy.