TokenBlackGuy
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- Nov 18, 2011
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If you look at the Philippines economy it is based on the fundamental principle of Capitalism. Yet you see many people poor and living in poverty while you have a small percentage of rich people.
In America, Conservatives (who support pure Capitalism) believe that not taxing the rich will benefit society by allowing the rich to invest in business and create jobs. Yet in the Philippines, rich people don't seem to care about creating jobs or using their money to expand business or employ people. A lot of the really wealthy Filipinos seem to invest their money overseas which really doesn't do anything to employ people in the Philippines. In fact lots of rich people seem to think they would benefit more by investing overseas rather than invest in business.
Don't get me wrong I'm not a Socialist by any means. However, I do think that there are some social programs that are useful and some that are beneficial to society. I do notice that the Philippines shows an example of how Capitalism can cripple a society.
So having said that, do you think that the Philippines is the perfect example of how Capitalism can go wrong?
In America, Conservatives (who support pure Capitalism) believe that not taxing the rich will benefit society by allowing the rich to invest in business and create jobs. Yet in the Philippines, rich people don't seem to care about creating jobs or using their money to expand business or employ people. A lot of the really wealthy Filipinos seem to invest their money overseas which really doesn't do anything to employ people in the Philippines. In fact lots of rich people seem to think they would benefit more by investing overseas rather than invest in business.
Don't get me wrong I'm not a Socialist by any means. However, I do think that there are some social programs that are useful and some that are beneficial to society. I do notice that the Philippines shows an example of how Capitalism can cripple a society.
So having said that, do you think that the Philippines is the perfect example of how Capitalism can go wrong?