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When it's good we call it self-interest. When it's bad we call it cronyism. We define capitalism in terms of markets because we would rather not discuss the mo
by danharaj 7y ago
When it's good we call it self-interest. When it's bad we call it cronyism.
We define capitalism in terms of markets because we would rather not discuss the more fundamental question of who owns what.
When capitalism produces spectacular exaggerations of human cruelty, it has been corrupted. When a socialist system produces it, it is intrinsic.
- ernst_klim 7y ago> When capitalism produces spectacular exaggerations of human cruelty, it has been corrupted. When a socialist system produces it, it is intrinsic. Nobody blame socialism for cruelty in good faith. Cruelty has nothing to do with economic system. What socialism (or any government trying to replace or severely restrict private sector) really does way more worse is empty shelves, deficit and terrible recourse misallocation. There are more fundamental questions than the leisure ones like "who ownes what". Such as how come my parents lived in the second largest economy in terms of GDP and only few years later the whole country had nothing to eat, and we had a humanitarian crisis without any war or natural calamity.