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Definitely not. It's the regulation of capitalism that is driving this. This is why the countries where capitalism is most heavily regulated (nordic countries,

Definitely not. It's the regulation of capitalism that is driving this. This is why the countries where capitalism is most heavily regulated (nordic countries, some european countries) are cited throughout the article. Capitalism on its own with no regulation just devolves into corporate dystopia and corruption because the short term path of least resistance is always taken. When we experience progress it's because of thousands of well thought out regulations that steer capitalism, perhaps kicking and screaming, towards actual technological and societal progress. Conversely, when public policy is dictated by lobbyists and corporate interests, wealth disparity increases and progress ceases. Those that say "but capitalism is all about disrupting and innovating" are wrong -- capital will only innovate if it has no other choice. It would much prefer to simply buy out, price-fix, monopolize, crush via economies of scale, bribe, silence naysayers, acquire, etc., because these tactics and any tactics that maintain the status quo in which the corporation has been able to become successful are superior if left unregulated. If the only options you leave on the table for capital to take are options that are good for society, then you will see society improve. Imagine how much we could progress technologically, culturally, and societally if we were able to 100% remove corporate influence over politics and create regulations and guardrails that reward innovation and punish monopolization and exploitation.

ryan93 5y ago
Governments should have instituted a lot more regulations a thousand years ago to eliminate poverty.
- InitialLastName 5y ago
  You joke, but there's no denying that the last millennium's trend of increasing government centralization, stability, control over the use of violence, and enforcement of property rights (in whatever systematic form they take) has been a factor in this reduction in poverty levels. Nothing is quite as good at causing desperate poverty cycles as most of your local infrastructure getting regularly forcibly undeveloped in a civil war, or the chaos of local resources getting stolen by whatever brigands show up.
  - ryan93 5y ago
    I agree of course. Just being a little facetious.
mortenlarsen 5y ago
I agree. If capitalism is the fuel that makes the car run, as some say it is (maybe it is? I don't know.), it needs to be regulated and applied in the right place and amount to make the car go forward. Some people seem to think more is always better, and that we should just dowse the car in gasoline and light it on fire to make it go faster. Why they think that would work is beyond me.
jacobr1 5y ago
> why the countries where capitalism is most heavily regulated This really isn't the case. There is a very heavily regulation of industry in many developing countries and it impedes their growth. Often it even provides the basis for corruption. You could argue the that the nordic countries have smarter, or better regulation, but in many ways they operate freer markets than much of the world.

ryan93 5y ago

Governments should have instituted a lot more regulations a thousand years ago to eliminate poverty.

InitialLastName 5y ago
You joke, but there's no denying that the last millennium's trend of increasing government centralization, stability, control over the use of violence, and enforcement of property rights (in whatever systematic form they take) has been a factor in this reduction in poverty levels. Nothing is quite as good at causing desperate poverty cycles as most of your local infrastructure getting regularly forcibly undeveloped in a civil war, or the chaos of local resources getting stolen by whatever brigands show up.
- ryan93 5y ago
  I agree of course. Just being a little facetious.

mortenlarsen 5y ago

I agree. If capitalism is the fuel that makes the car run, as some say it is (maybe it is? I don't know.), it needs to be regulated and applied in the right place and amount to make the car go forward. Some people seem to think more is always better, and that we should just dowse the car in gasoline and light it on fire to make it go faster. Why they think that would work is beyond me.

jacobr1 5y ago

> why the countries where capitalism is most heavily regulated This really isn't the case. There is a very heavily regulation of industry in many developing countries and it impedes their growth. Often it even provides the basis for corruption. You could argue the that the nordic countries have smarter, or better regulation, but in many ways they operate freer markets than much of the world.