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No economic system can mitigate toxic politics. Regulatory or political capture by economic interests is always a threat. As is political seizure of economic as
by simonh 4y ago
No economic system can mitigate toxic politics. Regulatory or political capture by economic interests is always a threat. As is political seizure of economic assets or resources. These are human failings you find in any system. This is why rule of law is so important.
- agentultra 4y agoAnd why the struggle must always continue! A society doesn't simply implement socialism (or any system) and call it a utopia. There will always be forces and counter-forces. Fascism will continue to find a way back into any system it can.
- simonh 4y agoWe can both completely completely agree on both points. There are no magic wands that will solve corruption and rent seeking. These are both human flaws. I’m not even against a dose of socially managed resources and services where it makes sense. Cheers.
- agentultra 4y agoCheers! Indeed a bit of planning can work, even in a mostly capitalist system. Take WalMart as an example. It's annual revenues dwarf the GDP of many small countries. And yet it is centrally managed, planned, and rather efficient!