Capitalism is the worst type of economy, except for all the other types of economies.
It is a self evidently stupid position to take to say that the system we currently have is the best of all possible systems. It has brought us to the edge of global economic collapse not seen since the 1920's, and it was the same fundamentally flawed system which caused the 1920's depression. The current system was the direct cause of the rise of the communist system which failed the world over 20years ago.
Its nothing about socialism - its about a form of capitalism which is intrinsically dysfunctional. Money which serves no other purpose than to make money has lost its roll. Money is only valuable in that it relates to real assets - but if the money supply has exploded due to money generating money without reference to real value, then it has become dysfunctional.
A flawed system has gobbled up all other contenders and there is no way out short of complete collapse.
Society is neither socialist or capitalist - it is a set of person to person interaction and if economics gets in the way of that functioning to serve societies needs then it has to fail by its own internal contradictions. That collapse will hopefully be a learning experience.
Edited by Br Cornelius, 08 March 2013 - 11:00 AM.