@cicerone imposter,
Quote:but capitalism is by far the best because it's based on competition.
I don't know what system is 'best'. But when you say capitalism is best, I presume you refer to the US system or systems like what the US has? If so, then it is hard to say because we are not a purely capitalistic society. The state intervenes on multiple levels to keep that capitalism from destroying things.
So, capitalism, left to its own devices will destroy an economy. This is what we see in our system as a cyclical process that the state has to, from time to time, intervene in to prevent state bankruptcy. So, the Great Depression was one, multiple recessions from then on culminating in the crash of mid 2000's.
In these cases, especially the most recent ones, the crashes occur when the state removes itself from oversight and to the degree that it does is the degree we court and find financial disaster. The corporate 'nanny' state then steps in an provides necessary relief, the absence of which would devastate the economy - that translates to working families whose lives are ruined..
The reason are complex, but have to do with a fight for limited resources, lack of foresight and not the least the greed instantiated by the competition of capitalism (there is also the tacit understanding that no matter how stupid and greedy they are, they can rely on a compliant gov't to provide welfare 'bail-outs - there is thus no incentive to be smart with that funny money). There may be good stewards employing capitalism, but not enough. The analyses I present is what is observed on the whole, statistically. There are also issues with limited markets that drive a stake into capitalism's economic heart (and is the current reason why corporations have been and are bogarting out of the US at record rates for foreign shores)
So, it is possible that a limited capitalism such as we have may be the best economic system, I don't know. I don't know enough about other possible systems to make a good argument for something else.