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That's a very Friedman-esque take. Capitalism is nothing more than private ownership of means and capital (usually in a market largely free of government contro
by tgv 2y ago
That's a very Friedman-esque take. Capitalism is nothing more than private ownership of means and capital (usually in a market largely free of government control). The recent inflation outbreak is a clear example where capitalism is not a win-win. Banks, hedge-funds, private equity are other good examples.
- stavros 2y agoI don't mean that capitalism only produces wins, I mean that companies are incentivised to produce things that consumers will want (the "win-win" the GP mentioned).
- tgv 2y agoThat comment mentions "consumer benefit", which is something else that desire, sometimes entirely. It's the origin of the perversion of the free market. In the classical view, consumer desire is called "demand", and demand creates the incentive. But that's also not the definition of capitalism, and it's also valid for non-capitalist systems.