Fiery_penguin_of_doom wrote...
Islamic
Islam was NEVER a economic system. It did have rules, that one should go by such as when burrowing money both parties needed to sign a contract with witnesses, no interests added on debts, etc. etc..
But, if you want to insist that this made it a economic system, than you also need to add Christianity, as they had several laws about dealing with money and affairs in businesses.
As for me, personally, I believe that capitalism as it is known in the US is ending. We've got too many issues ranging from people abusing loop holes, to down right taking advantage of other countries. The biggest loop hole of all is the fact that a corporation is LEGALLY considered a human being, which is one reason why those in charge of the corporations have gotten away with all sorts of things; although this has been changing since the 1970's, BUT it has been a VERY slow change.
Also, another reason I believe it is coming to the end is the fact that people are just simply getting tired of the ridiculous prices for the basic utilities; I can tell you where I live, the water company is run by a private corporation; and water in my area was about like $4-6 a gallon 5 years ago, and now it's up to about $18-20. The area I live in has some what of a drought conditions, but we've been getting a lot of rain this year, yet prices are still high! Why is this? The county governments are charging extra money for people who use over a certain amount of water. This has in effect, according to an article I read a few months ago, cut water usage close to half of what it was 5 years ago, and the water company we use has claimed that the price is going up due to the drought, but the article pointed out that a memo that was sent out a few years ago stated that they needed to increase profits due to the conservation of water, and they raised the price per gallon shortly after...
It's not just the price of utilities, but lets not forget the price of gas! Gas is getting ridiculous, when the cost of oil per drum raises, gas prices are raised immediately, but when the price goes down, it takes weeks or sometimes even months before the price we pay at the pump follows accordingly. I've heard all their excuses, and personally, if all of them are true, why is it gas prices jump almost immediately and take so long for them to go down? I had worked at a gas station for a year, and in many cases, when oil goes up, the distributors raise their prices automatically, despite the fact the gas we get right when the price goes up was bought weeks ago when it was cheaper! Now, I've heard some people claim that the distributors are the ones who are ripping people off, but the distributor for our station was a small one, and the owner of it was also one of the drivers who had shown me the price he bought the gas from the American Oil Companies (I was often charged with assisting the drivers with anything they needed, which would often be to help pull the hoses to the right tanks to dump the fuel in).
We've got so many issues with Capitalism that they are coming out due to the state of the economy. When the economy is good, no one really complained about any of these issues, now that the economy is continually dropping, all these issues have come out into the light, and I can tell you, all of them are part of the reason why the economy is doing bad right now. There isn't one single, or a handful of reasons why the US economy is doing so badly, it's so many reasons it would probably take 1000 pages to discuss fully!
As I stated before, I believe Capitalism as we know it in the US is coming to the end; now when this end could be, I can't say. It could be a few years to over a decade. But, Americans can no longer afford to allow companies and corporations to continue on as they have been for the last 5 decades. And personally, I think the government might fall as well, as they seem more intent on trying to keep things as they were, instead of trying to find OTHER ways to fix it. You can throw as much money at problems as you want, but any man who is smart will realize that money isn't going to solve every problem we have.