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And therein lies the most significant problem with unbounded capitalism. Capitalism is a very, very powerful tool, because it redefines everything in terms of m
by ublomate 3y ago
And therein lies the most significant problem with unbounded capitalism. Capitalism is a very, very powerful tool, because it redefines everything in terms of money. This enables the magic of specialization and trade, but it also causes situations like this where greedy and/or thoughtless people chip away at the margins of things like safety and let other people suffer the consequences.
- JumpCrisscross 3y ago> Capitalism is a very, very powerful tool, because it redefines everything in terms of money Well, in terms of capital. For the segments of the economy we put into the market. Also, this is more a feature of industrialisation than capitalism—socialist economies still consider resource allocation in generalisable terms.
- amelius 3y ago> Capitalism is a very, very powerful tool, because it redefines everything in terms of money. But only when it is convenient. For example school teachers or police officers can work their brains out but cannot profit from it like entrepreneurs do. For many people unbounded capitalism is a very shitty proposition.
- deleted 3y ago[deleted]
- saulpw 3y agoTeachers and police officers don't benefit by definition because they do not have capital. Capitalism benefits the people who start private schools and private jails. Capitalists take advantage of labor in order to increase their own profits.