4 ms·

No, capitalism is good we just have to reign it in like Europe and Asia.

by trianglem 6y ago

bagacrap 6y ago
Capitalism sort of implies competition...
- ardy42 6y ago
  > Capitalism sort of implies competition... Actually, I don't think it does: https://www.lexico.com/en/definition/capitalism https://www.lexico.com/en/definition/capitalism: > An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. A privately-owned monopoly that ruthlessly crushes all competition is just as capitalistic as a privately-owned competitor in a market with perfect competition. The key concept is private ownership and control, not competition. Competition is is only required if you want the resulting system to have some positive externalities for consumers and society at large.
- vkou 6y ago
  The only thing that capitalism implies is the existence of a class that does not work, but collects profits from the capital it owns. That class sees competition is an unnecessary, and a profit-reducing problem[1] that can be routed around. [1] See Thiel's monopoly essay.
  - Ididntdothis 6y ago
    Instead of aspiring to be capitalistic we should aspire to have a competitive market economy.
omgwtfbyobbq 6y ago
This. The only stuff that needs to be nationalized is some fraction of certain industries that are critical for the nation (eg infrastructure, shipping, defense, energy, etc...).
- ardy42 6y ago
  > This. The only stuff that needs to be nationalized is some fraction of certain industries that are critical for the nation (eg infrastructure, shipping, defense, energy, etc...). Boeing is a big defense contractor: https://www.fool.com/investing/2017/01/30/boeing-earnings-the-defense-edition.aspx https://www.fool.com/investing/2017/01/30/boeing-earnings-th...: > In addition to being the world's biggest producer of commercial airplanes, Boeing is also one of the world's biggest defense businesses -- and this is key to understanding Boeing stock. Commercial Airplanes may provide 69% of Boeing's revenue, but according to data from S&P Global Market Intelligence, Commercial Airplanes contributes only 54% of the company's profits. The bulk of Boeing's remaining business comes from its big Defense, Space & Security division, which comprises three parts: Military Aircraft, Network & Space Systems, and Global Services & Support.
animalgonzales 6y ago
lol yeah everything is just peachy with American capitalism

No, capitalism is good we just have to reign it in like Europe and Asia.

bagacrap 6y ago

Capitalism sort of implies competition...

ardy42 6y ago
> Capitalism sort of implies competition... Actually, I don't think it does: https://www.lexico.com/en/definition/capitalism https://www.lexico.com/en/definition/capitalism: > An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. A privately-owned monopoly that ruthlessly crushes all competition is just as capitalistic as a privately-owned competitor in a market with perfect competition. The key concept is private ownership and control, not competition. Competition is is only required if you want the resulting system to have some positive externalities for consumers and society at large.
vkou 6y ago
The only thing that capitalism implies is the existence of a class that does not work, but collects profits from the capital it owns. That class sees competition is an unnecessary, and a profit-reducing problem[1] that can be routed around. [1] See Thiel's monopoly essay.
- Ididntdothis 6y ago
  Instead of aspiring to be capitalistic we should aspire to have a competitive market economy.

omgwtfbyobbq 6y ago

This. The only stuff that needs to be nationalized is some fraction of certain industries that are critical for the nation (eg infrastructure, shipping, defense, energy, etc...).

ardy42 6y ago
> This. The only stuff that needs to be nationalized is some fraction of certain industries that are critical for the nation (eg infrastructure, shipping, defense, energy, etc...). Boeing is a big defense contractor: https://www.fool.com/investing/2017/01/30/boeing-earnings-the-defense-edition.aspx https://www.fool.com/investing/2017/01/30/boeing-earnings-th...: > In addition to being the world's biggest producer of commercial airplanes, Boeing is also one of the world's biggest defense businesses -- and this is key to understanding Boeing stock. Commercial Airplanes may provide 69% of Boeing's revenue, but according to data from S&P Global Market Intelligence, Commercial Airplanes contributes only 54% of the company's profits. The bulk of Boeing's remaining business comes from its big Defense, Space & Security division, which comprises three parts: Military Aircraft, Network & Space Systems, and Global Services & Support.

animalgonzales 6y ago

lol yeah everything is just peachy with American capitalism