Capitalism and Free Markets will always fail.
Human nature is the Achilles heel of Capitalism and Free markets. The desire for profits turns into greed. The greed defeats any possibility of self regulating. Putting in controls and regulations is the only way to control the greed but in doing so changes the meaning of free markets.
Reagonomics was a failure. Money never trickled down. Instead it found its ways back into the pockets of those that controlled the wealth. The whole premise of Capitalism and free markets has been the down fall of dynasties empires and governments throughout History. The regulating of the systems get displaced by greed and corruption due to the insatiable need for more wealth. The wealthy get wealthier and more powerful and increasingly depend more on the poor to produce their wealth for them. Eventually this can not be sustained and it collapses, an uprising or revolt, or takeover happens. The poor can no longer afford to buy the products, the products eventually cease to be produced and the companies close and the wealth disintegrates and everyone loses except for those that stole the wealth thru unregulated corrupt practices. We have seen it happen with Enron, Oil and Gas prices, the dot com bubble, the housing bubble and now with Maddoff, AIG and the Banking Bailouts. History is repeating itself due to the unregulated greed and corruption of Free Markets and Capitalism.
Unfortunately our government has been unable to or unwilling to regulate anything and instead has cave to the needs of the wealthy or special interests and over the past eight years under the Bush Administration this has even become more profound where rules and regulations were reduced to protect big business at expense of the consumer. The republican control has allowed itself to be guided or controlled by corporate needs and demands of moral or religious groups. They protect the needs of a fortunate minority but do not answer to the needs of all. Unlike Spock in Star Trek The needs of the many do not outweigh the needs of one or a few. I have found it always amazing that those that commit terror attacks, commit assassinations, bomb abortion clinics always tend to be republican and republicans also tend to be more corrupt and more falsely religious yet expect others to follow their religious views not their examples.
This is evident through History be it the Spanish Inquisition the Roman Empire, Nazi Germany and the USA today. Greed and narrow moral or religious views and domination were the controlling factors.
For Capitalism and Free Market to truly survive and thrive A liberal or Democratic set of regulations need to be in place that keeps corruption, greed and domination in check. The Wealthy need the workers for them to remain wealthy. So keeping the workers out of poverty and able to increase their wealth only benefits all classes rich and poor. Without it all collapses.
The recent bonus and bailout fiasco with AIG only goes to exemplify how deep rooted this is and how greed makes those oblivious to the reality of what is going on. The need to protect their personal wealth for out weighs their needs our responsibilities to protect or save the economy. I keep hearing I have mine screw all of you. Retention Bonuses are collected and kept yet they leave. High Salaries and packages are always said to retain the qualified yet they can't retain them. At the same time employees are not paid adequate living wages and are told they are replaceable so they are not dignified a salary that induces retaining them.
It is also Free Markets and Capitalism that I fear will be the biggest obstacle to finding cures for Cancer or other Medical advances. Cancer research and treatment is a billion dollar industry that would collapse if a cure were to be found. Pharma would be the only benefactors and probably gouge for the cure. Health Care costs in general are out of control due to greed and profit needs not the health of the patient.
