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> If capitalism is based around rational self-interest, why would anyone exclude political power as a means of increasing their wealth? It would be deeply irrat

> If capitalism is based around rational self-interest, why would anyone exclude political power as a means of increasing their wealth? It would be deeply irrational to avoid such an avenue. Not true. It is in our best and most rational self-interest to participate in philanthropy and in building a nice society that we can live in, enjoy, and make a profit in. Capitalism and philanthropy and a social safety net are not mutually exclusive, which is why (like I already said) there are capitalists who vote for candidates who want to increase taxes and increase spending on social goods and services. In fact I'd argue that it's only capitalists who can properly invest and sustain a strong safety net. That's why countries like Switzerland and Denmark are capitalist countries. > Yes, regulations will interfere with the unfettered pursuit of profit, but that's by intent. The example of it being hard to enter the pharmaceutical space to produce cost-effective generics is an example of government regulations prohibiting cost-reducing competition. You can pursue profit while offering a good or a service that is less expensive and higher quality than the alternatives. > Because it didn't really seem to make much of a point. Yes government spending priorities could be different and I'm sure there's wastage that could be lessened - although I'd guess less than you think. Cronyism exists in any organisation of more than one person. But the point was that it isn't capitalism that is responsible for that cronyism. And that the wealthy wanting tax cuts does NOT mean that the wealthy need to dismantle the safety net in order to get their tax cuts. We can afford both tax cuts and a safety net if we eliminate cronyism in the government.

dragonwriter 8y ago
> But the point was that it isn't capitalism that is responsible for that cronyism If by “capitalism” you mean the real-world economic system for which that name was coined by it's critical you are wrong. If by “capitalism” you mean the abstract theory created to provide propaganda to justify that system after it already existed, you are, well, still wrong, because that propaganda tool serves to protect the actual source of the problem. > And that the wealthy wanting tax cuts does NOT mean that the wealthy need to dismantle the safety net in order to get their tax cuts. We can afford both tax cuts and a safety net if we eliminate cronyism in the government. The wealthy don't want tax cuts independent of cronyism and social safety net, they want cronyism in their favor, including particular forms of tax and social safety net cuts.

dragonwriter 8y ago

> But the point was that it isn't capitalism that is responsible for that cronyism If by “capitalism” you mean the real-world economic system for which that name was coined by it's critical you are wrong. If by “capitalism” you mean the abstract theory created to provide propaganda to justify that system after it already existed, you are, well, still wrong, because that propaganda tool serves to protect the actual source of the problem. > And that the wealthy wanting tax cuts does NOT mean that the wealthy need to dismantle the safety net in order to get their tax cuts. We can afford both tax cuts and a safety net if we eliminate cronyism in the government. The wealthy don't want tax cuts independent of cronyism and social safety net, they want cronyism in their favor, including particular forms of tax and social safety net cuts.