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If we’re saying that the free market isn’t capable of delivering the infrastructure that underpins much of our modern economy, then where does that leave the id

If we’re saying that the free market isn’t capable of delivering the infrastructure that underpins much of our modern economy, then where does that leave the idea of capitalism?

Rapzid 9y ago
I suppose the same place we were left when figuring out roads, water mains, water mains connections, telephone and electricity initially, emergency rescue, etc? Better off?
icelancer 9y ago
We have a mixed market economy, like we've always had. It says nothing about anything.
addicted 9y ago
Capitalism is great because it’s been the best tool we’ve had to massively improve quality of life in many different areas of life. That doesn’t mean it’s the only tool we have and/or it should be an end in itself. The situation where capitalism is not the best tool for the job we should abandon it for that job. That will not only mean we have a better standard of living, but will also mean the idea of capitalism gets stronger because it doesn’t suffer from negative backlash when it fails because it is used in situations where it isn’t the right tool because of ideology. There is possibly an analogy here to programmers who insist a certain technology be used everywhere, even where it isn’t a good fit, instead of opting for the best tool for the specific application.
- knieveltech 9y ago
  "The situation where capitalism is not the best tool for the job we should abandon it for that job." Soooo healthcare, food distribution, housing, transportation, resource extraction, education...
themagician 9y ago
Capitalism isn’t all or nothing and government expenditure on infrastructure isn’t incompatible with capitalism. There are certain markets (telecom, healthcare, mass transportation) where completely “free markets” don’t exist, because they can’t exist, because the nature of the products and consumers are such that one or both violate the criteria for which a free market can exist (lack of perfect information, no competition, etc.) The free market can not create a national telecom network because it can not force all people to pay into it, which is necessary in order to have it built in the first place. The only reason we have the internet as we do is because AT&T was mandated by the government to install phone lines to everyone, everywhere, and charge everyone a fee for decades to pay for it. By its very nature there is no competition and no choice. The old Bell System was a government sanctioned and funded monopoly and no free market would have ever created such a network by itself because that’s not what free markets do. They simply allocate capital effectively in markets which are compatible with the criteria necessary for that kind of allocation to be possible.
cooper12 9y ago
Capitalism is one of those things that only works in theory. One only has to look at the countless deaths and massive wealth inequality caused by it to realize it's unfeasible.

If we’re saying that the free market isn’t capable of delivering the infrastructure that underpins much of our modern economy, then where does that leave the idea of capitalism?

Rapzid 9y ago

I suppose the same place we were left when figuring out roads, water mains, water mains connections, telephone and electricity initially, emergency rescue, etc? Better off?

icelancer 9y ago

We have a mixed market economy, like we've always had. It says nothing about anything.

addicted 9y ago

Capitalism is great because it’s been the best tool we’ve had to massively improve quality of life in many different areas of life. That doesn’t mean it’s the only tool we have and/or it should be an end in itself. The situation where capitalism is not the best tool for the job we should abandon it for that job. That will not only mean we have a better standard of living, but will also mean the idea of capitalism gets stronger because it doesn’t suffer from negative backlash when it fails because it is used in situations where it isn’t the right tool because of ideology. There is possibly an analogy here to programmers who insist a certain technology be used everywhere, even where it isn’t a good fit, instead of opting for the best tool for the specific application.

knieveltech 9y ago
"The situation where capitalism is not the best tool for the job we should abandon it for that job." Soooo healthcare, food distribution, housing, transportation, resource extraction, education...

themagician 9y ago

Capitalism isn’t all or nothing and government expenditure on infrastructure isn’t incompatible with capitalism. There are certain markets (telecom, healthcare, mass transportation) where completely “free markets” don’t exist, because they can’t exist, because the nature of the products and consumers are such that one or both violate the criteria for which a free market can exist (lack of perfect information, no competition, etc.) The free market can not create a national telecom network because it can not force all people to pay into it, which is necessary in order to have it built in the first place. The only reason we have the internet as we do is because AT&T was mandated by the government to install phone lines to everyone, everywhere, and charge everyone a fee for decades to pay for it. By its very nature there is no competition and no choice. The old Bell System was a government sanctioned and funded monopoly and no free market would have ever created such a network by itself because that’s not what free markets do. They simply allocate capital effectively in markets which are compatible with the criteria necessary for that kind of allocation to be possible.

cooper12 9y ago

Capitalism is one of those things that only works in theory. One only has to look at the countless deaths and massive wealth inequality caused by it to realize it's unfeasible.