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>Capitalist wealth comes from repeated consensual and mutually beneficial transactions. Tech hiring collusion, 2008 financial crisis, environment degradation a
by vdaniuk 11y ago
>Capitalist wealth comes from repeated consensual and mutually beneficial transactions.
Tech hiring collusion, 2008 financial crisis, environment degradation and global warming, slavery-like conditions at suppliers of multinational corporations, medical bankruptcies in US and lack of guaranteed holidays, ghettos, plundering of natural resources, monopolies everywhere (as prescribed by Thiel btw).
Such a wonderful, mutually beneficial, ethical system with so many positive externalities! /s
You may claim that capitalism is the "best" system at this point, but to state that's wonderful is indeed indistinguishable from parody.
- icebraining 11y agoThe free-marketeer response is that many of those problems have actually been caused by a lack of adherence to capitalist/free-market principles - eg. a policy of bailing out banks since Continental Illinois, preventing market discipline and leading to riskier behavior; heavy involvement of public policy distorting markets (both through laws pushing cheap housing mortgages, and through government-sponsored institution like Fannie Mae); land expropriations in China that force people to accept those slavery-like jobs (obviously not in accordance to strong property rights as defended by free-marketers); government-granted monopolies (including patents), and many more.