3 ms·
I guess my concern is about the living standards of workers not creation of wealth. I think your argument is that growing wealth helps the working class as it c
by grafmax 1y ago
I guess my concern is about the living standards of workers not creation of wealth. I think your argument is that growing wealth helps the working class as it creates more wealth, and thus a bigger pie. My argument is that a bigger pie does not benefit the working class without external forces pressuring the capitalist class.
I agree markets can be beneficial in some ways but they also have pathological behaviors left on their own. In capitalist countries the capitalist class more or less runs the government, even in so-called democracies. This is because wealth and thus power sits with the capitalist class. In our society market effects over time have produced a wealth disparity so great that the capitalist class is pushing austerity measures that will likely succeed in further enriching itself at the expense of the working class - lowering living standards while increasing profits. In the meantime existential risks to the human race like climate change or nuclear war are not only neglected but actively stoked.
I also would caution against the use of the term “free” market; China directs its markets; even the “Asian tigers” story was the outcome of state policies deliberately building a manufacturing base including measures such as education and land reform - admittedly a much freer hand given was given to markets compared to China; yet in neither case would I characterize these gains as the result of markets operating truly independently or freely; in both cases market effects were guided and channeled toward specific desired outcomes.