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October 20, 2020 at 10:32 am #23813etilleyKeymaster
Capitalism is at least 6,000 years old, 4,000 years ago a King named Hammurabi explained how to manage capitalist nations sustainably and wrote it down in stone – literally, on the Code of Hammurabi (1763 BCE). Read Leviticus 25:26 to understand his 50th-year Jubilee Year economic resets.
Unsustainable capitalism created the Great Depression (Herbert Hoover) and sustainable capitalism created the greatest economy in history – thanks to FDR.
Every nation on the planet is capitalist today; even North Korea’s ultra-low-opportunity and ultra-low-productivity oppressive-dictatorship, makes a buck every chance it can and its only method of mobility is systemically driven by bribery.
For most of these 6,000 years, nations were managed by Monarchies or tribal leaders and warlords. This changed in the 20th century, perhaps not coincidentally with Henry Ford’s innovation of the Living Wage. Living Wages – you may be surprised to hear, are an American invention that made a dramatic difference to economies globally.
Monarchies who were not quick enough to respond to the obvious merits of wide opportunity would soon perish. This change, wasn’t as good a thing for revolutionists that adopted a socialistic system, as it was less productive for societies than a predominantly capitalist approach, but capitalisms only worked reliably in the Puritan nations where they were governed by a Bible’s Rights of Life requirements and lessons of mutual respect.
Remember that Aristotle explained Democracy could be an evil system of government wherein the majority could vote to starve the minority to death. These failings of empathy happen easily when major problems get hidden within very large population democracies as they grow to be greater than 20-million or so.
This is why almost every country is a Republic with a national Constitution. Where constitutions do not protect Rights of Life at all times – like in today’s Mature Capitalism, an imbalanced salary-to-cost-of-living ratio, and Capitalism collapses economies and societies reliably too.
This failing of empathy explains America’s present Right versus Left campaign – to vilify the poor basically. There is only one “side” of course. Systemic failings of empathy are evil societies, explained Aristotle – as did the Nuremberg Diaries in 1946.
America was always been a capitalism, and was always a democracy from the time it that it’s 2-million population took independence from Britain’s Monarchy. In 1850, its population grew larger than 20-million and since then, its 250-year-old Constitution has been unable to prevent Mature Capitalisms, as FDR explained that it must.
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