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Capitalism brought hundreds of millions out of abject poverty in the last thirty years. It has real consequences. The poor in the US have better living standard
by coryrc 4y ago
Capitalism brought hundreds of millions out of abject poverty in the last thirty years. It has real consequences. The poor in the US have better living standards than half the planet and every opportunity to better except their own cultures holding them back. The left refuses to acknowledge or deal with this, creating generational poverty. What's not to blame is "capitalism".
- n4r9 4y agoYou're making a few disingenuous claims. Firstly, that it is illegitimate to criticise capitalism because it has created some benefits. As if we're not even allowed to dream of system reform because we're currently doing better than other countries. Very little social or economic progress would be made if we all thought like this. Secondly, that those benefits are purely due to unadulterated capitalism. In reality, Western countries follow a mixture of capitalist, statist, and socialist policies. The poor in the US have seen improvements because of the minimum wage, anti-trust regulations, and various social safety nets combined with economic growth. Thirdly, that the only thing holding other countries back is "their own cultures". This ignores widespread, long-term destabilising interference by Western countries in Africa, the Middle East, South Asia and South America.
- mind-blight 4y agoCapital markets are really great at some things, and really bad at others. Treating them as a one-size-fits-all solution for our problems is inefficient and dogmatic. We end up coupling our moral values with the system we use to try to enforce said values