4 ms·
Capitalism is a system where, so it is claimed, atomized individuals pursuing their "rational self-interest" produce an inherent moral and societal good. This i
by ATsch 5y ago
Capitalism is a system where, so it is claimed, atomized individuals pursuing their "rational self-interest" produce an inherent moral and societal good. This is to be aided by a lack of regulation and interference by non-market forces. The freer the markets the freer the people.
This case is a pretty clear example of how this is not in fact the case. By the metrics of a captialist system this should be a huge success. You have investment, voluntary contracts, free markets and fierce competition that results in huge amounts of innovation. Yet the result is horribly useless waste that hurts society. I think it's pretty fair to call it out.
- ATsch 5y agoI can't personally speak to the effectiveness of all of the systems humans have lived under or seriously proposed, but I'm fairly certain that among them capitalism is pretty unique in being a system where a paperclip maximizer can be considered a good product. (incidentally also fairly unique in being the only system so far under which hunans have created a global extinction level event)
- robocat 5y agoThat sounds like a straw man argument to me. I think capitalism is amoral. Regulations are added to restrict some of the harmful effects of uncontrolled greed.