Uncommon Sense

November 5, 2021

Capitalism Fails Again

Filed under: Economics,Politics,Reason — Steve Ruis @ 8:02 am
Tags: , , ,

This is a fascinating post on Medium.com about the shipping issues we currently face: I’m A Twenty Year Truck Driver, I Will Tell You Why America’s “Shipping Crisis” Will Not End.

This is another example of capitalism failing badly. When you read this article note that none of the involved players has an incentive to solve their part of the problem and that they are sitting back waiting for “government” to step in and pay for the needed changes.

This is another example of capitalism failing badly.

This is not the first occasion of this happening. Take our electrical grid, for example. Analyses going back decades state that it is a shambles compared to what we need and that it constitutes a strategic weakness, that is a political bad actor, expending little in the way of resources, could bring the grid down for days or weeks, crippling our economy. None of the component parts of the system, however want to pay for upgrading their segment as it will be expensive, so they are sitting back, waiting for federal funding for the needed upgrades.

And, I suppose you haven’t notice the state mobilizing to repair the bridges, roads, and whatnot under their oversight. No? Neither have I.

Investing large amounts of funds in infrastructure is not something any corporation is interested in now, because there are no incentives for doing so.

So, the next time you hear someone extolling the magical benefits of capitalism, you might want to ask them about a few of these “issues” for which capitalism’s only response is to pretend it is socialism.

4 Comments »

  1. Strong government, strong country. Weak government, weak country. The Repubs want it both ways. If the government isn’t in control, who is? What a mess. In the meantime, China floats serenely by. GROG

    Liked by 1 person

    Comment by grogalot — November 5, 2021 @ 12:02 pm | Reply

  2. China is fascinating as 90% of all spending decisions are made outside of Beijing. The Politburo makes the goals and then delegates, and by delegating I mean they monitor everything. In Russia they delegated and didn’t monitor which is how the built vanishing buildings. They received progress reports of buildings over years and paid and paid and when final they showed up to see the building they found a hole in the ground. That does not happen in China. Strong government, indeed.

    We need to reclaim the word government. The GOPers have created an alien entity out of it, instead of it being “us acting collectively.”

    Liked by 1 person

    Comment by Steve Ruis — November 5, 2021 @ 1:08 pm | Reply

  3. Hard to say ‘capitalism’ is failing badly when capitalism has been dead for decades. Corporatism killed it… Go ask the ghost of Reagan. He handed out the pugios.

    Liked by 3 people

    Comment by john zande — November 5, 2021 @ 6:15 pm | Reply


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