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I agree with your argument that a Baron could be gorging himself while a begger starves to death... this is a definite disadvantage of capitalism, but does this
by andriesm 5y ago
I agree with your argument that a Baron could be gorging himself while a begger starves to death... this is a definite disadvantage of capitalism, but does this disadvantage outweigh the advantages? And how do the alternatives compare... I would say it's still a far leap to say tue system is terrible or worse than most proposed alternatives. I like the saying - Democracy is the worst possible system, except for all other alternatives... which is to say democracy is a way for 51 percent to force their will down the throats of the other 49 percent... but autocracy is still worse in general because it does not have a corrective mechanism like democracy has. The same I believe applies to capitalism. We can improve pure democracy by going for constitutional democracy... some may argue a mostly free market with some taxation is an improvement over pure anarcho-capitalism.
- jbay808 5y agoWell, I'm not making a claim in favour of any particular system, merely answering this question: > Wait, HOW does inequality render assumptions about free markers maximising social utility invalid? by showing that there is no particularly strong reason to think that free markets maximize social utility. When it comes to other systems, all I can really say is that the space of alternatives is not very well explored.