Capitalism often times fixes itself, this is true. What we need to figure out is whether going from crisis to crisis is healthy. Any system that requires bubbles to burst from time to time to such devestating effect on the people isn't a system I want to support.
Now we can also get into the question of whether capitalism can ever be reformed enough to where there isn't a recession every 20 years. I don't believe so. That's not to say that I don't believe in markets completely, I'm a Proudhonian syndicalist, but I don't believe that with our current structures of power we will ever reform this system or any system. In fact reform doesn't work anyways. Revolutionary action is the answer. Not violent revolution, but a complete change of thought and structures for society.
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07-29-2009
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