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But this isn’t true. Median income and median wealth has been on a general upward trend for over a century. I mean, how do you think the Western world become
by refurb 4y ago
But this isn’t true. Median income and median wealth has been on a general upward trend for over a century.
I mean, how do you think the Western world become so wealthy? How did China raise tens of millions out of poverty.
Capitalism!
- the_gastropod 4y agoThis all-or-nothing thinking is, itself, a problem. Capitalism is a tool. And it's good at many things. Creating competition and innovation in consumer goods is one area it's obviously very good at. It is not good at equity. Externalities are a massive problem raw capitalism has no affordance for addressing. Regulations (another tool) are necessary to smooth out capitalism's rough edges. You'll find very few people that actually want to whole-hog entirely get rid of capitalism. When you find people critiquing it, it's generally from the vantage point of "this is a rough edge that needs addressing via some government intervention". Housing (in addition to healthcare, education, transportation, and countless other areas) seems like one case where this is very obviously true.
- goodpoint 4y ago> Creating competition and innovation in consumer goods is one area it's obviously very good at. Not really.
- the_gastropod 4y agoGood point ;-)
- refurb 4y agoAh yes, the non-capitalist nations are known for their broad selection of consumer goods, competition and cutting edge innovation, right?
- goodpoint 4y agoWrong.
- r_hoods_ghost 4y agoCapitalism is like democracy, it is the worst system possible... except for all the others.