What are the problems with capitalism and the free market?

[sheabutter]

Also, do you think the competition will encourage advances in alternative energy, or does it need federal funding? Sources would be great. Thanks.

[G]

well...the problems in an unchecked market is that the workers always suffer...

pay is only enough to barely survive and safety is of no concern...

I mean that's why someone bothered to write the communist manifesto... and form unions... you can look at the industrial revolution, india or africa for examples...

but we have checks in the U.S. now that stop that from happening most of the time...

I don't think there will be any major advances in alternative energy until we run out of oil... our entire system is set up for oil now and it would all have to be replaced at great cost to change it... it's not cost effective right now...

[jim0007766]

there are none. except when government gets involved, then you have problems.

[Caitlin]

There is nothing to keep economic inequality in check, and people begin to define their value in society by wealth & income (as opposed to heritage, seen in a more closed social system -- not that defining social status by heritage is any better.) Industrialization and the free market lead to the false belief that economic failure is the result of laziness and personal flaws, not disadvantages since birth, such as being born into a poor family and receiving a poor education (look up English sociologist Herbert Spencer and his highly inaccurate interpretation of Darwin's "survival of the fittest" theory).

Competition probably would encourage advances in alternative energy, but only if there is a market for it. A combination of federal funding and competition would probably be best.

[Chainsaw]

Problems with capitalism

1. There are haves and have nots.
2. Success is a basis of results.
3. Liberals cannot stand either of these.

The problem with oil is not really a problem. The government intervenes and screws up the whole process. Taxes on every point. When we really need alternative sources of energy, the market will produce it. Government intervention only screws it up.