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This whole "capitalism bad" debate feels incredibly black and white. I think what most people are really against is the one way street that capitalism establis
by MildlySerious 7y ago
This whole "capitalism bad" debate feels incredibly black and white.
I think what most people are really against is the one way street that capitalism established. It's a broken system, and it wouldn't matter if we had any other system as long as it would still be broken and abused.
On a global level, there are tax loopholes that allow multi billion corporations and individuals to pay essentially no taxes.
This money is then used to further enrich the same parties through a financial market that is equally broken.
It has nothing to do with capitalism that wealth is created without a flow of goods or other value that is created from it. All it does is devalue all other wealth at a growing pace.
Capitalism is not ideal, it won't be. But if we moved towards actual, functional capitalism where governments did their part in keeping the whole thing from turning into a one way street, we would have a long way to go before we needed something else.
- jakelazaroff 7y agoIs it not just as black and white as the whole "socialism/communism is bad" stuff we're fed? People act like Medicare For All would be catastrophically expensive, when even our arguably closest allies in the UK — not exactly a socialist haven! — have the NHS, which seems to work out great. They pretend the Green New Deal would mark the end times for the US, as if the last New Deal's massive investment in infrastructure didn't help revitalize the economy. But yes, I agree — the idea that best thing to do is dogmatically implement one particular economic system is absurd.
- MildlySerious 7y agoMy wording clearly wasn't the best, so thanks for picking this up. Your comment reflects what I had in mind. We don't have to go from one to the other in one big swing. Evolving and moving towards a less broken system would go a long way already.
- mtbcoder 7y ago> the one way street that capitalism established. > It has nothing to do with capitalism > But if we moved towards actual, functional capitalism What you are making is the classic "it's the fault of faux-capitalism and not my idealized version of capitalism" argument.
- MildlySerious 7y agoHow exactly is closing tax loopholes and rampant corruption idealized? That should be the bare minimum.
- zip1234 7y agoI was reading recently about how many criminals are going international in order to avoid laws in their own country. They pick places where extradition treaties are not established and then will steal or scam money over the internet. The current system has not caught up to this just as it hasn't caught up to international tax loopholes. This is definitely not a failure of capitalism though, it is simply a lack of imagination by governments. Corporations are organizations designed to maximize profits for their shareholders. If they are not trying to minimize their tax burden, they are not doing their job. Governments either need to agree on a global tax framework,find an alternate way of charging tax that is less prone to loopholes, or lessen their need of tax revenue.