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There's nothing inherent to capitalism that requires individuals to constantly be attempting to maximize wealth. And there are ways for a society to discourage
by organsnyder 8y ago
There's nothing inherent to capitalism that requires individuals to constantly be attempting to maximize wealth. And there are ways for a society to discourage such behavior, such as a very high tax rate on income over a certain amount (perhaps 90% on income over $1 million). That would change behavior after a certain point, without throwing out all of the optimizing benefits of capitalism in general.
Yes, the right wing will cry "socialism!", but that's simply not true. Capitalism is still the mechanism that decides winners and losers—there's just less incentive to "win" above a certain amount. At worst (if one considers capitalism as the end goal rather than the means to drive production), it's a hybrid of some sort.