3 ms·
Functional capitalism serves 2 main purposes: 1. Money encourages people to help each other by facilitating reciprocation: I do something for you and you pay m
by bloppe 4y ago
Functional capitalism serves 2 main purposes:
1. Money encourages people to help each other by facilitating reciprocation: I do something for you and you pay me, someone else does something for me and I pay them, etc.
2. Private ownership fosters accountability: People maintain their own houses because it's theirs. See also tragedy of the commons.
If these purposes are not being served for a majority of people, they will reject capitalism. But the right regulatory environment can ensure that they are. In a distant future with extreme levels of automation, people will still need help from one another and people will still want to own their own things. We just have to make sure it's possible. Progressive tax schemes and UBI, possibly in the form of equity, could accomplish that.