What you’re describing has far more in common with state socialism than capitalism. It’s corruption aided and abetted by government, similar to what you would have seen in Eastern Europe decades ago or Venezuela today. Under capitalism, the gobshites you are describing should have been allowed fail and not bailed out. Unfortunately Ireland has a long history of supporting cowboys.
Small business is the essence of capitalism in action, again most people are employed by small business owners. Crony capitalism, which is what you’re describing, is a cancer and needs to be eradicated.
Ireland is like the 51st state of the US and the most corrupt.
The political system we have isn’t working, there is a complete disconnect between what produces a healthy economy and what politicians (who are supposed to serve the people ) are incentivized to do. Everything we are complaining about, corruption, concentration of wealth, comes about because the greedy and corrupt have the politicians in their pockets. There are countless examples, but here in the US, as in Ireland, a small business owner is taxed to the hilt while the tax code is designed to help large corps avoid paying tax altogether. Nothing will change because the tax laws are written by lobbyists for big business, and there’s no point blaming one party or the other, both are equally responsible.
The solution is for government to do what its supposed to do, create a level playing field, incentivize small business and entrepreneurs, put a stop to monopolies and corruption, sensible regulation. It’s simple but there isn’t a notion of it happening until lobbying is outlawed. There are no benefits of lobbying that justify the harm it does.
“A perfect capitalist system” doesn’t exist and never will. Believing that anything even close to it can exist is to fundamentally misunderstand human nature.
The closest the world has to “a perfect capitalist system” is Somalia.
Is that why people are flocking to Somalia instead of the US?
You make some good points like Kev, but then you destroy it with gibberish. The US, for all it’s flaws, is as close as we have to a perfect capitalist economy. There is nothing stopping people better themselves and succeed in the US, other than themselves.
Socialism is what goes against human nature, it removes incentive, and that’s the primary thing humans respond to.
Good man. Out of curiosity what brought you there as a teenager?
I haven’t lived in Venezuela, but have visited. It’s a beautiful country, very hospitable people like most of south America.
Pity what’s happened to it.
) are incentivized to do. Everything we are complaining about, corruption, concentration of wealth, comes about because the greedy and corrupt have the politicians in their pockets. There are countless examples, but here in the US, as in Ireland, a small business owner is taxed to the hilt while the tax code is designed to help large corps avoid paying tax altogether. Nothing will change because the tax laws are written by lobbyists for big business, and there’s no point blaming one party or the other, both are equally responsible.