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Well that’s the nice thing about capitalism. If it doesn’t work, it eventually dies.
by paulddraper 1y ago
Well that’s the nice thing about capitalism.
If it doesn’t work, it eventually dies.
- Arainach 1y agoAnd the not nice thing about capitalism is that it can keep not working longer than most of us can pay for rent and food.
- deleted 1y ago[deleted]
- zombot 1y agoThe belief in a rational market approaches religion.
- rightbyte 1y agoThe dissolving of the Soviet Union gave the neoliberals hubris or something and as they dwindle the ones left seem to get crazier.
- paulddraper 1y agoSome might even say social science
- zombot 1y agoA "discipline" where you can say just about anything because there's no way to prove or disprove it.
- guappa 1y agoCapitalism failed in 1929 but its corpse is still here…
- zombot 1y agoDepends on who you ask. Today's billionaires would disagree.
- marcosdumay 1y agoThe developed countries were mostly capitalistic up until the 70s. It just only started to die at the 80s, and it's still going strong on a few countries. If you mean that a socialist structure was created on the 30s, yes, it was. But it didn't kill capitalism. Relentless corruption and cronyism is what killed it, the socialism in fact depends on it to work.
- paulddraper 1y agoSpeculation failed, and then the proceeded government spent the next 8 years doing everything they could get away with against free markets -- tariffs, taxes, bonds.
- asimovfan 1y agocan you please define "does not work"? and give some examples of things that died because it didn't work?
- gruez 1y agoLiterally any company that went bankrupt? Before iPhones there was the Blackberry, now the company is basically defunct.
- paulddraper 1y agoNokia AOL Blockbuster Pan Am
- guappa 1y ago> Nokia I mean… if you define "does not work" as "place my own guy in a high position so he can make it stop working"… sure…
- hermitcrab 1y ago>If it doesn’t work, it eventually dies. Unless it is a bank, in which case it gets bailed out by tax payers.
- hnthrow90348765 1y agoCannot understate how absolutely enraging it is every time "basic economics", "supply and demand", or "basic capitalism" comes up as a thought-terminating response despite everything government does to keep failing stuff going
- hermitcrab 1y agoCapitalism for the poor. Socialism for the rich.
- gruez 1y ago...and that's fine, because banks are highly regulated.
- hermitcrab 1y agoAre they though? There seems to be a lot of talk about relaxing various regulations bought in after the 2008 crash. Did we learn nothing?
- gruez 1y ago>There seems to be a lot of talk about relaxing various regulations bought in after the 2008 crash. Did we learn nothing? "relaxing regulations" =/= not "highly regulated". We can quibble about what the exact amount of regulation is ideal, but I don't think the core concept of "the economy benefits from a banking system that is backstopped by the government, and the government should regulate banks to ensure the backstop isn't being abused" is controversial, contrary to what the parent poster was trying to imply with his "Unless it is a bank, in which case it gets bailed out" comment. Similar thing happens in insurance. If a ship sinks in rough waters the owner gets reimbursed by the insurance company, nobody makes snarky comments about how ship owners are being "bailed out".
- the_real_cher 1y agoUnless its a monopoly.
- AbstractH24 1y agoDeath and rot are inevitable, it’s the friends we make along the way that matter most.
- easyThrowaway 1y agoMark Fisher's "Capitalist Realism" proved this wrong in 2009.
- Nasrudith 1y agoWasn't that the bunk which was basically "It is all capitalism's fault that despite having a great power and our entire careers dedicated towards finding an alternative we cannot find one?".
- easyThrowaway 1y agoUhhh...No, it's more like "we're keeping the corpse of capitalism around and pretending it to be alive because having to accept that would mean completely revisiting modern society". In the last 40 years capitalism has stopped being an economic model and has become theology. I mean, sure, it lasted way more than soviet communism before ending up in the same way, I'll give to it.
- saubeidl 1y ago... and when it does, it usually takes a lot of innocent people with it.