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This is such a weird take because every other system except capitalism did not produce enough resources to let there be 8 bn people, and capitalism did produce
by dash2 3y ago
This is such a weird take because every other system except capitalism did not produce enough resources to let there be 8 bn people, and capitalism did produce them and also made the people vastly richer than the 1 bn there were before.
- savingsPossible 3y agoWe're (as in humanity) still trying 'domesticated capitalism' for example in china. There are alternatives to laissez-faire, the current (bad) state of affairs is part of a trend for laissez-faire starting in the 70s. We do need innovation in tech, and in supply chains, and in products, and for that capitalism is wonderful We do not need innovation in how to ignore labour laws (uber) renters protections (airbnb). We do not need lower marginal top tax rates, and accumulation in the 1%. We also need innovation in how to stop runaway capitalist cycles (and, again, I am hoping western democracies will learn from china how to do that before it is too late)
- tomrod 3y agoBy my reckoning, when 90% of online comments mention "capitalism" they are describing the extractive process of taking worker surplus in the Marxian sense, which rent-seeking effectively is, not the freedom to allocate capital to accomplish value-additive projects, processes, and products. The prior has a _lot_ of bad outcomes. Check out Nestle's impact to the world. The latter has a _lot_ of good outcomes, but it easily opens up to the former.