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I agree, given the right definition of “capitalism”. Unfortunately “capitalism” has two quite different meanings. Which are rarely clarified in use. Capitalis
by Nevermark 2y ago
I agree, given the right definition of “capitalism”.
Unfortunately “capitalism” has two quite different meanings. Which are rarely clarified in use.
Capitalism with a big C, a too common overarching ideology, gets bent to mean whatever the greedy, unethical and rich want it to mean so they can get more money.
But small c capitalism, evolving from both practical and ethical foundations, is a system so useful it has multiplied the benefits of civilization. But it is just one such system.
It can’t do everything, it needs other independent systems (justice, dispute resolution, rules of clarity, risk & trust limiting systems, for starters) to work, and extending it to places it doesn’t work causes great harm.
(Like when perversely applied to those enabling systems, in big C form, as is happening now.)