For people it does for government it empowers those running things... They use the debt to convince those obedient serfs that they have to cut back the programs that help them survive so they can cut taxes on the rich to pay off the debt.... Both these "solutions" only make matters worse.

Capitalism doesn't pay fair wages they would rather buy politicians...

There is no doubt that capitalism has brought us the standard of living we have today but at a cost. Degradation of the environment,mass extinction of species and the looming disaster of climate change.
It has concentrated wealth in the hands of a few and govt. intervention is important.
In a totally free market there are going to be more losers than winners.

@Lizard_of_Ahaz capitalism can pay fair wages, a minimum wage can be set that’s gauged by the real cost of living.
It’s inter country transactions that mess this up, by people getting a fair wage having to compete with those living below our poverty line. That’s when taxes need to be applied to those imports that reflect the savings they have made on the product by effectively using impoverished people to create their products.
Every problem can be legislated against, or people can be more self aware and support Countries that pay their people a living wage/ buy fair trade products.
Capitalism can be ethical.

@Moravian capitalism doesn’t have to be a completely free market, there are trade deals and embargoes used currently. Many laws have been made to protect the environment and most governments now give a hearing to those protecting species’ homes.
The Japanese government have been making some serious commitments towards the environmental changes needed recently: [businesstimes.com.sg]

@girlwithsmiles The key word is "can" but in reality they won't unless they are forced to by regulations or absolute necessity. Proper regulation is Democratic socialism...

@girlwithsmiles There has never been a "free-market capitalism" that is a fictional catch phrase used by the rich who just want to line their pockets without paying fair wages, their fair share of taxes, and be free to destroy the environment for their profit while all of us suffer the effects of their criminal actions.

Yes, sounds right. Didn’t know about anti trust laws so found this explanation, along with more unfair practices that are protected against. Interesting: [investopedia.com]

It's clearly unfair to compare Venezuela's autocratic socialism with democratic socialism.

Are you American? Do you participate in Social Security? Then you sir, are a card-carrying socialist.

I don't believe that socialism had any part in the destruction of society in Venezuela. Corruption and fascist government greed took everything away from the people and gave it to those in power.

@OldGoat43 The only part socialism had in that was it made them a target for US economic warfare... Our tax dollars also went to pay and supply terrorists to collapse the effective government and American corporations closed their factories to help create more poverty...

@BD66 Yeah laugh it up why don't you that those fascist terrorists paid for by US tax dollars were shooting up humanitarian supplies including medicine and food.