4 ms·

Capitalism is good when it can be balanced with the needs of society. We do not have that. We have people saying their only requirement is to make more money.

Capitalism is good when it can be balanced with the needs of society. We do not have that. We have people saying their only requirement is to make more money. What do you call someone who pursues profit at all costs, only restrained - and sometimes not - by the regulation of government? Evil, duh. If you approach capitalism like this you're evil.

mattmaroon 2y ago
We do have that, a lot. It’s just not perfect. Capitalism has been the best thing that’s ever happened to humanity, and you’re just regurgitating the propaganda from people not capable of nuanced thought. Capitalism is not the answer to every problem, and nobody in economics believes laissez faire is a good idea. People pursuing profits is what has lifted is all out of poverty. “At all costs” doesn’t mean anything, it’s just a propaganda buzzword. Believe it or not, PE firms do a lot of good things too. VC is a form of PE without which we wouldn’t be having this conversation. A lot of poorly run businesses were purchased and well run and became going concerns. And certainly it goes the other way sometimes, but that’s not necessarily bad. Is the World materially worse off without Kmart and Sears? Hard to say. In any case, when you hear someone call capitalism evil, that’s the propaganda trap I’m talking about. It’s a tool. It’s no more evil than a hammer.
- coliveira 2y ago
  > People pursuing profits is what has lifted is all out of poverty. No, it's not. People were living in abject poverty during capitalism heyday. It was only when society decided that enough was enough and capitalists had to pay taxes to fund pensions, schools, sick time, vacations, etc., that people started to have a decent life.
  - mattmaroon 2y ago
    We are currently living in capitalisms heyday. Fewer people are living in abject poverty than ever.
    - coliveira 2y ago
      No, in the developed countries we have a mix of socialism and capitalism. Pure capitalism has produced only fortune for the rich and misery for the population.

mattmaroon 2y ago

We do have that, a lot. It’s just not perfect. Capitalism has been the best thing that’s ever happened to humanity, and you’re just regurgitating the propaganda from people not capable of nuanced thought. Capitalism is not the answer to every problem, and nobody in economics believes laissez faire is a good idea. People pursuing profits is what has lifted is all out of poverty. “At all costs” doesn’t mean anything, it’s just a propaganda buzzword. Believe it or not, PE firms do a lot of good things too. VC is a form of PE without which we wouldn’t be having this conversation. A lot of poorly run businesses were purchased and well run and became going concerns. And certainly it goes the other way sometimes, but that’s not necessarily bad. Is the World materially worse off without Kmart and Sears? Hard to say. In any case, when you hear someone call capitalism evil, that’s the propaganda trap I’m talking about. It’s a tool. It’s no more evil than a hammer.

coliveira 2y ago
> People pursuing profits is what has lifted is all out of poverty. No, it's not. People were living in abject poverty during capitalism heyday. It was only when society decided that enough was enough and capitalists had to pay taxes to fund pensions, schools, sick time, vacations, etc., that people started to have a decent life.
- mattmaroon 2y ago
  We are currently living in capitalisms heyday. Fewer people are living in abject poverty than ever.
  - coliveira 2y ago
    No, in the developed countries we have a mix of socialism and capitalism. Pure capitalism has produced only fortune for the rich and misery for the population.