GLOBAL KEYNESIANISM

To ANDREW:
Just 2 points:

1. My rejection of your definition of capitalism as as genocide, slavery,
racism and state oppression and my showing that such brutalities have
occurred and do occur under many different systems cannot be interpreted as
a justification of such "atrocities" if they happen under capitalism.
Capitalism is a system o organizing economic production, which has
succeeded in elevating productivity to levels undreamed of by our
forefathers. In the beginning it might have achieved such ends through
paying their workers the lowest possible wages, but lately its success in
increasing prosperity is due to stimulating human ingenuity and
technological progress. 
On the other hand it has resulted in an absurd concentration of wealth in
very few hands, which is the reason why some socialistic remedies are an
integral part of my proposals for Global Keynesianism.

2. You say that Socialism's pitfalls require socialist solutions, just as
capitalism's pitfalls require capitalist solutions. 
In practice China went all out to adopt capitalistic practices to improve
the efficiency of their socialitic economy and even Cuba had to do that in
a small scale. 
On the other hand Norway and other Democracies based on Capitalism have
adopted socialistic policies in order attend many of their social problems
and especially to achieve a less unequal distribution of wealth. 
As far as I can judge such policies were VERY successful in both cases.
Regards Paul Riesz.
.