3 ms·
https://en.wikipedia.org/wiki/Great_Depression https://en.wikipedia.org/wiki/Great_Depression https://en.wikipedia.org/wiki/Great_Recession https://en.wikipedi
by malermeister 4y ago
https://en.wikipedia.org/wiki/Great_Depression https://en.wikipedia.org/wiki/Great_Depression
https://en.wikipedia.org/wiki/Great_Recession https://en.wikipedia.org/wiki/Great_Recession
Here's some citation for ya.
As for viable replacements that allow for forward progress:
https://en.wikipedia.org/wiki/Workers%27_self-management https://en.wikipedia.org/wiki/Workers%27_self-management
(Also, for that matter, it's not like capitalism doesn't tend to devolve into autocracy and corruption)
- epgui 4y agoThese links do not support your claims.
- borski 4y agoThat there have been downturns is not an indicator that capitalism does not inherently work in the long term. There are always downturns, no matter the system.
- anon84873628 4y agoHenry George would argue that it's the landlords, not the capitalists, who are causing the downturns :)
- astrange 4y agoPretty sure worker-owned companies still need investment and loans.
- Kungfuturtle 4y agoFor what it's worth, I agree with you and feel those examples are indeed emblematic of our current economic mode. The "alternative" you envision is premised on shifting power back to the masses, but I think it's also important to mention guardrails to prevent excessive capital accumulation. There would still be an economy, but it would be driven by a more egalitarian aggregate demand and less likely to suffer the shocks of boom bust cycles associated with financial malarkey.
- jcbrand 4y agoEvery single man-made institution devolves into corruption. Capitalism isn't the outlier here.