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In a capitalist economy, the capital itself is the engine of things like growth and prosperity, and can be leveraged to build dominance over labor. In a social
by fuzzfactor 3y ago
In a capitalist economy, the capital itself is the engine of things like growth and prosperity, and can be leveraged to build dominance over labor.
In a socialist economy, labor is the engine of things like growth and prosperity, and can be leveraged to build dominance over capital.
In a capitalist society, the dominance over labor is favored philosophically, and can tend toward structures somewhat resembling ownership of labor by capital. Inherent advantages fall to capital, and labor operates within the environment which is not strongly geared toward its best interest. In practice this would be shareholder-owned businesses which have very few shares owned by workers. Workers that do become shareholders are effectively riding the coattails as the bulk of the capital prospers of its own accord.
In a socialist society, the dominance over capital is favored philosophically, and can tend toward structures somewhat resembling ownership of capital by labor. Inherent advantages fall to labor, and capital operates within the environment which is not strongly geared toward its best interest. In practice this would be worker-owned businesses which have very few shares owned by non-workers. Investors that do become shareholders are effectively riding the coattails as the bulk of the labor prospers of its own accord.
Things like democracy, government, corruption, communism, meritocracy, welfare, fascism, consumerism, invention, creativity, and free enterprise are completely different subjects.