7 ms·

To flip the question: Why do people blame capitalism as if it’s not possible to have another system but maintain capitalism? Capitalism doesn’t imply lack of a

To flip the question: Why do people blame capitalism as if it’s not possible to have another system but maintain capitalism? Capitalism doesn’t imply lack of a social safety net or regulations. Even its most classic proponent Adam Smith saw a role for the state in providing public goods and regulating industry.

mempko 9y ago
Smith also said division of labor makes people as stupid as creatures can be. Smith was pre capitalist.
ionised 9y ago
No, but unrestrained capitalism without adequate regulation is a problem. The trick is to balance capitalism and socialism, as in a social democracy.