In Part 1 , I described a few of the implications of capitalism's success being decoupled from general wellbeing, equality, and environmental protection. I also described how capitalism is often compared to alternatives, but the alternatives, while socialist in name, are usually politically totalitarian as well as economically non-capitalist. Here, I expand on capitalism's impacts from a New Zealand perspective on housing. *** For many generations, the mainstream Kiwi dream has been to own a family home on a quarter acre section. Indeed the same aspiration as a national identity is echoed throughout Western capitalist democracies . It's little surprise that this type of goal is common: a home offers shelter and security, basic human needs topped only by the likes of food, water, and air. As you would expect for a dream of this kind, it has historically been widely achievable, and indeed has been supported by government policy ( see Ferguso...
I n a speech on Nov. 11, 1947, Sir Winston Churchill reminded the UK's House of Commons that ' democracy is the worst form of government, except for all those others that have been tried.' In a similar fashion, capitalism is the worst economic system , except for all the others . — Matt Barnes, 2014. There is no alternative [to neoliberalism] — Margaret Thatcher, 1980s. *** It's often said that, for any flaws, capitalism is better than any economic system we might replace it with. Its most enthusiastic supporters claim the advances in human living standards since the industrial era can be attributed to capitalism, a claim which pervades popular culture . At the less enthusiastic end, capitalism is viewed as a problematic and flawed system, but when contrasted with the nominally socialist states of the 20th century, most commonly Soviet Russia, it is considered to have been the b...