3 ms·
Capitalism is evil.
by roschdal 4y ago
Capitalism is evil.
- eyelidlessness 4y agoI don’t accept the concept of evil, but I do think capitalism has me on the philosophical ropes.
- polotics 4y agoCome on! Incentives are what gets enough people to get up in the morning! What makes capitalism evil is regulatory capture, but many other forms of organisation have regulatory capture as their founding principle...
- diordiderot 4y agoSo get rid of oversight, employ 'self regulation' and end up in a universal 747 Max situation?
- polotics 4y agoWell no. Regulatory capture typically leads to some self-regulation scenario being proposed. So: ensure the regulator is truly independent from the regulated, and make the regulator accountable for outcomes. You can even have competing regulatory regimes to see what comes out, but usually (and sadly) this gets coupled with geography.
- entropicgravity 4y agoYes but it's less evil than communism. Capitalism at least has the virtue that it can scale but it also has to be regulated. Regulated capitalism is far from perfect but it's the best thing we've come up with so far.