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Incorrect. Capitalism allows economies to accelerate the birth of new companies that benefit people. When it's policed and regulated poorly, yes, scammers can

by gmd63 3y ago

Incorrect. Capitalism allows economies to accelerate the birth of new companies that benefit people. When it's policed and regulated poorly, yes, scammers can proliferate. So don't vote for politicians who lie without apology, and don't let people you don't trust manage your money or provide you with goods or services. Predatory people will exist with or without capitalism, only Capitalism is fine-grained democracy where you vote literally every day with your dollar. I should also add, don't do any scamming or predatory behavior yourself. Because the most important vote you make for how society is run is with your own actions.

Supermancho 3y ago
> only Capitalism is fine-grained democracy where you vote literally every day with your dollar. I'm not sure where you get that from. Every economic model has trading, wherein the participants make trades (goods for goods). Capitalism is not democratic. Communism isn't democratic for a similar reason. The pareto principle (and natural hierarchies) appears and equality goes out the window for the traders.
- gmd63 3y ago
  It certainly is more democratic than any alternatives I'm aware of. If you don't want someone to accumulate more economic influence, do not pay them. The government will not jail you for doing so. If business is controlled by a democratically elected government, and 49% of the country voted against those officials, there is no way for them to start their own alternative business to articulate those preferences in the market.
  - Supermancho 3y ago
    > It certainly is more democratic than any alternatives I'm aware of It's no different at all, to any other economic system. > If business is controlled by a democratically elected government, and 49% of the country voted against those officials, there is no way for them to start their own alternative business to articulate those preferences in the market. If you have 1 dollar and I have one hundred thousand, the same problem exists. This has nothing to do with capitalism or democracy, per se.
    - gmd63 3y ago
      It is not the same. You can build your own business and the guy with one hundred thousand dollars does not have any ability to prevent you from doing that under the law. The hierarchy under capitalism is very different.

by gmd63 3y ago

Supermancho 3y ago

> only Capitalism is fine-grained democracy where you vote literally every day with your dollar. I'm not sure where you get that from. Every economic model has trading, wherein the participants make trades (goods for goods). Capitalism is not democratic. Communism isn't democratic for a similar reason. The pareto principle (and natural hierarchies) appears and equality goes out the window for the traders.

gmd63 3y ago
It certainly is more democratic than any alternatives I'm aware of. If you don't want someone to accumulate more economic influence, do not pay them. The government will not jail you for doing so. If business is controlled by a democratically elected government, and 49% of the country voted against those officials, there is no way for them to start their own alternative business to articulate those preferences in the market.
- Supermancho 3y ago
  > It certainly is more democratic than any alternatives I'm aware of It's no different at all, to any other economic system. > If business is controlled by a democratically elected government, and 49% of the country voted against those officials, there is no way for them to start their own alternative business to articulate those preferences in the market. If you have 1 dollar and I have one hundred thousand, the same problem exists. This has nothing to do with capitalism or democracy, per se.
  - gmd63 3y ago
    It is not the same. You can build your own business and the guy with one hundred thousand dollars does not have any ability to prevent you from doing that under the law. The hierarchy under capitalism is very different.