3 ms·

What is unfettered capitalism? The "unfettered" part leads me to believe this is a pejorative. Wikipedia redirects to economic liberalism, which is just free m

What is unfettered capitalism? The "unfettered" part leads me to believe this is a pejorative. Wikipedia redirects to economic liberalism, which is just free markets in opposition to planned economies. Is there anyone even remotely serious who thinks planned economies are superior? Is there a planned economy in the world that isn't in tattered ruins, impoverishing its people in the most hideous and evil fashion, while literally stealing its pittance of wealth for a few dozen autocrats in charge of the government?

hombre_fatal 7y ago
I keep seeing "capitalism" leveled at Amazon as a pejorative when people seem to mean "consumerism."
rapind 7y ago
By unfettered capitalism I just mean a system where you end up with disparities of 500x, massive multinationals, and horrible behaviour by many (yesterday we had an article about Cargill for example) that's too hidden or abstract for most of society to fully realize. I believe it's unsustainable and will inevitably come crashing down. Personally I'm in favour of worker coops with a capped pay disparity between the least and most valued workers (like 8x). I'm not advocating for planned economies or a Chinese or Russian approach (power in the hands of the few).
- jrs235 7y ago
  >a system where you end up with disparities of 500x, massive multinationals, and horrible behaviour by many That's not unfettered capitalism though. That's captured markets via regulation and laws picking winners and protecting incumbents. That's due to corporatism... when corporations, via imaginary person-hood, are given the same rights as humans. What I label as corporatism.
  - rapind 7y ago
    Well whatever you want to call it, it's what we've got. Pure free market can't work because of externalities (dumping chemicals upstream of your town), so we have regulation, and yeah it gets captured. I think people would get more value out of work if they had a stake and a voice, instead of being peons for a super rich board of investors. I suspect we'd make longer term decisions, instead of cutting corners. We elect our leaders (antipathy aside), why can't democracy extend to the workplace? It can and does work already, so let's have more of it. More experiments, more critical thinking about the way things are. Subsidize co-ops the same as incorporations (or just get rid of subsidies entirely) so it's an even playing field.
foldr 7y ago
China's economy is planned to a significant extent and doesn't match that description. Of course, it is not a textbook example of a planned economy, but neither is the economy of any Western country a textbook example of a laissez-faire free market economy. The US economy, for example, is significantly distorted by an enormous amount of planned 'defense' spending. Real economies tend to be complex and have a mix of features.

hombre_fatal 7y ago

I keep seeing "capitalism" leveled at Amazon as a pejorative when people seem to mean "consumerism."

rapind 7y ago

By unfettered capitalism I just mean a system where you end up with disparities of 500x, massive multinationals, and horrible behaviour by many (yesterday we had an article about Cargill for example) that's too hidden or abstract for most of society to fully realize. I believe it's unsustainable and will inevitably come crashing down. Personally I'm in favour of worker coops with a capped pay disparity between the least and most valued workers (like 8x). I'm not advocating for planned economies or a Chinese or Russian approach (power in the hands of the few).

jrs235 7y ago
>a system where you end up with disparities of 500x, massive multinationals, and horrible behaviour by many That's not unfettered capitalism though. That's captured markets via regulation and laws picking winners and protecting incumbents. That's due to corporatism... when corporations, via imaginary person-hood, are given the same rights as humans. What I label as corporatism.
- rapind 7y ago
  Well whatever you want to call it, it's what we've got. Pure free market can't work because of externalities (dumping chemicals upstream of your town), so we have regulation, and yeah it gets captured. I think people would get more value out of work if they had a stake and a voice, instead of being peons for a super rich board of investors. I suspect we'd make longer term decisions, instead of cutting corners. We elect our leaders (antipathy aside), why can't democracy extend to the workplace? It can and does work already, so let's have more of it. More experiments, more critical thinking about the way things are. Subsidize co-ops the same as incorporations (or just get rid of subsidies entirely) so it's an even playing field.

foldr 7y ago

China's economy is planned to a significant extent and doesn't match that description. Of course, it is not a textbook example of a planned economy, but neither is the economy of any Western country a textbook example of a laissez-faire free market economy. The US economy, for example, is significantly distorted by an enormous amount of planned 'defense' spending. Real economies tend to be complex and have a mix of features.