The Fall of Capitalism?

Reactionary and shortsighted socialists, anarchists, and European free-marketeers believe wholeheartedly that the monies disbursed to private enterprises by the American federal government through investment and loans signify the beginning of the downfall of laissez-faire capitalist economics. I am not one of those individuals. While the privatization of profits and socialization of losses is both unsustainable and an abhorrent abomination of any principle the people of the United States have ever held, it is not the harbinger of doom for capitalism as it is practiced today. Obama's election and the Democratic control of both Houses of Congress will not change anything, as was promised to millions of easily deceived voters. Both parties are in the pocket of corporate interests, because reelection often hinges on how many dollars a campaign can glean from the pockets of interested parties. Considering that the distribution of wealth is disgustingly skewed, and will likely grow more so in the coming decade, those few parties who have amassed such wealth (like corporations and multinational businesses) hold more sway over politicians than “normal” people because normal people cannot afford to donate money to political parties. Their budgets are spread thin by medical expenses, food, gasoline, and mortgage payments. In addition, if there is any intention by Washington to balance the budget, rest assured taxes will increase. One may cite the example of Obama's unprecedented fundraising in the later months of his campaign as proof that “normal people” can and do donate money to political candidates. This is because the economy has not turned sour on many “normal people” yet. When layoffs and salary cuts become more pervasive, political campaigns will focus on pleasing businesses that are doing well in this crisis. Wal-Mart, for instance, is making money hand over fist as people flock to their stores to spend less money maintaining their unsustainable lifestyles. There may be a socialist tinge to American economic policy for the next ten or fifteen years, however politics and the economic distributions of wealth and income will return to their present conditions, perhaps even more extremely unequal due to the opportunities open to those with wealth to invest during a depression, when competition for ripe investment opportunities falls.