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Thanks for clarifying. Which "something better"? Does "something better" still contain all the salient characteristics of what we call capitalism such that we
by ArkyBeagle 10y ago
Thanks for clarifying.
Which "something better"? Does "something better" still contain all the salient characteristics of what we call capitalism such that we keep the advantages? We're pretty sure that many things are entangled here; it's not clear that we have the means to disentangle them
I'll put up with a lot to see freedom from food insecurity, basic clean water and good abatement of public disease vectors. If we break the system in certain ways, we may lose the ability to do even that. Don't say this doesn't happen; look at some of the South American countries.
I try to sidestep all the ideology by thinking that the things we don't like about the Rubric Currently Known as Capitalism probably involve the use of economic rents to enrich certain people and not enrich other people.
If that tool works ( and I can't defend it beyond a rudimentary level, frankly ) then the things you're talking about that you don't like aren't actually part of capitalism.
And i think we're really talking about "why is growth slow?" Well, good question but my biases lead me to think that this is a lot demographic and the rest is bad monetary policy grounded in a basic lack of understanding of things like the proper role of central banks and public debt.
I don't know that if we had 4% {rN}GDP growth we'd even be talking about this.
In that case, "replacing" capitalism might just make it worse.