3 ms·
Can you give examples where transactions result in negative sum due to asymmetrical power, and what the proposed solution is? From my limited perspective, unl
by kuchenbecker 3y ago
Can you give examples where transactions result in negative sum due to asymmetrical power, and what the proposed solution is?
From my limited perspective, unless you actually do get rid of private ownership imbalances will exist and Power imbalances will exist regardless of the economic system.
- vkou 3y ago> Can you give examples where transactions result in negative sum due to asymmetrical power, and what the proposed solution is? Start by reading literally anything in https://en.wikipedia.org/wiki/History_of_labor_law_in_the_United_States https://en.wikipedia.org/wiki/History_of_labor_law_in_the_Un... and observe that most of the implemented solutions largely consisted of curtailing the rights of capital holders to do whatever they please in the employer-employee relationship. Weekends, sick leave, overtime pay, company scrip, employer responsibility for worker safety, fair employment, the right to free association, the right to work without harassment... Capitalism didn't produce any of those things - it is incapable of producing them - but has fought tooth and nail, sometimes with batons and bullets against them. Power imbalances continue to exist, the purpose of all these work-arounds to them is mitigating the harm that someone with power can inflict on someone without.
- kuchenbecker 3y agoIt's a false equivalency to expect Capitalism to produce specific laws or outcomes as it's an economic system and not a government. Both Sweden and USA are Capitalist but have very different views. You're critiquing an economic system as not self-fixing the flaws without proposing an alternative you would expect to do so. I agree capitalism has flaws, but feel history has shown the flaws to be manageable.