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Capitalism isn't an idea, it's a system that we live within. Yes, if you care about blame then you can just blame people for bad actions and call it a day. But
by beaconstudios 4y ago
Capitalism isn't an idea, it's a system that we live within.
Yes, if you care about blame then you can just blame people for bad actions and call it a day. But if you care about actually preventing bad actions then you need to look at incentives, and that's where the study of political economy comes in.
- smitty1e 4y agoIndeed, to quote myself within this very thread: > Incentives matter in the buyer/maketplace/seller realm of economics.
- beaconstudios 4y agothen what was your objection? Capitalism incentivises profiteering, the crypto industry is an example of practically pure profiteering.
- smitty1e 4y agoCapitalism is an intellectual concept, like Socialism. Materialism is the driver of the mischief in either the capitalist or Socialist case.