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>react much more slowly and/or less accurately. I’m not making an anti-capitalist point, but I don’t know how well that point holds because it seems like the s
by bumby 4y ago
>react much more slowly and/or less accurately.
I’m not making an anti-capitalist point, but I don’t know how well that point holds because it seems like the same case can be made for the other side.
For example, the financial markets were slow to react to information in 2006-2007 until we had already driven off the cliff. Some would say the same about climate change etc.
It seems to me that a hybrid system is actually the best as balancing that risk.
- steveBK123 4y agoIf you think our housing bubble in the capitalist west was crazy.. wait until you read about the ongoing one in central planned China...
- bumby 4y agoThat’s my point. The same effect exists in both systems so it doesn’t make a very strong argument against one or the other.
- hobobaggins 4y agoGP is making a point about the relative scale of the problem in one vs the other, not that the problem doesn't exist in both.
- bumby 4y agoIt’s hard to be worse than wrecking the world economy until central planning had to bail them out.
- xorcist 4y agoCapitalism have no universally agreed on definition but by many definitions, certainly any Marxist one, modern China is very much a capitalist society.
- deleted 4y ago[deleted]
- ianai 4y agoRegulation. You want regulation. And some social safety nets like social security, health care. Etc. Edit-also the reason you don’t immediately think of the word “regulation” is for the last 40+ years anyone suggesting regulation has been ran from public life as a communist or nazi. But regulation absolutely is just applying the usual legal system to the market to make sure the market stays within acceptable and safe bounds.
- bumby 4y agoI agree, but “regulation” is also the trope used to say the govt hinders/slows down business. I don’t think applying the brakes is always a bad thing. For example, I want regulation to temper the attitude of “moving fast and breaking things” in safety critical code.
- MobiusHorizons 4y agoMarket driven economies react to incentives. Regulation is one way to influence those incentives, but it’s usually slow moving (hard to put in place, hard to change or remove) A lot of the incentives in the us market are very short term in nature, especially in publicly held companies. It seems like this leads to companies following hype cycles right off of cliffs even when it’s not hard to see problems.