3 ms·

In a capitalist system, capital makes the rules for everyone. This is why capital earns more than labour. System working as intended.

wodenokoto 10mo ago
Sorta depends on where one draws the line, but the line you are drawing, suggest there should be no government, so "system not working as intended"
- bnlxbnlx 10mo ago
  I don't think they were thinking of "no government", rather something like "government working in support of capital" (see 2008 financial crisis bank bail-outs; enforcing private ownership and protecting accumulated wealth).
- TheOtherHobbes 10mo ago
  There's always a government. There isn't always an electable, accountable, removable government. Run - no matter how partially - for the common good.
- exe34 10mo ago
  It's a government of capitalists by capitalists for capitalists.
- beepbooptheory 10mo ago
  How little imagination we have anymore! Its like you discover ice cream but for some reason only chocolate ice cream. Someone is like "chocolate is no good" and all you know to think is: "Oh so you guys just dont want ice cream at all?!"
- int_19h 10mo ago
  Governments are fine. Any group of people large enough to not be a hivemind on everything has a government. Even if they don't formalize it, it will still emerge organically as they run into issues that require consensus on actions. The crucial difference is between the governments actually run by the people, and the governments that claim to "represent" them.
avianlyric 10mo ago
A capitalist system is built on the idea that holders of capital actually deploy that capital, rather than horde it. If capital holders don’t actually deploy that capital and compete with each other, then you don’t have a capitalist system anymore. You have a feudal system, where asset holders extract resources through rents, rather than capital deployment and risk taking.
- ryanjshaw 10mo ago
  Can you point me to the data showing how much capital is horded?
  - smallmancontrov 10mo ago
    "Is the capital being deployed for rent seeking or for taking economically useful risks?" is a judgement call. You won't find it listed in a FRED time series. When every industry is on a multi-decade streak of consolidation, when McDonalds is about land speculation rather than serving food, farming is about land ownership rather than growing food, airlines are about credit cards rather than transportation, it's not unreasonable to believe that a substantial amount of capital is being deployed towards rent-seeking rather than economically useful risk taking.
- OGWhales 10mo ago
  Would this not still be the case even if labor wasn't entirely outpaced by capital?

wodenokoto 10mo ago

Sorta depends on where one draws the line, but the line you are drawing, suggest there should be no government, so "system not working as intended"

bnlxbnlx 10mo ago
I don't think they were thinking of "no government", rather something like "government working in support of capital" (see 2008 financial crisis bank bail-outs; enforcing private ownership and protecting accumulated wealth).
TheOtherHobbes 10mo ago
There's always a government. There isn't always an electable, accountable, removable government. Run - no matter how partially - for the common good.
exe34 10mo ago
It's a government of capitalists by capitalists for capitalists.
beepbooptheory 10mo ago
How little imagination we have anymore! Its like you discover ice cream but for some reason only chocolate ice cream. Someone is like "chocolate is no good" and all you know to think is: "Oh so you guys just dont want ice cream at all?!"
int_19h 10mo ago
Governments are fine. Any group of people large enough to not be a hivemind on everything has a government. Even if they don't formalize it, it will still emerge organically as they run into issues that require consensus on actions. The crucial difference is between the governments actually run by the people, and the governments that claim to "represent" them.

avianlyric 10mo ago

A capitalist system is built on the idea that holders of capital actually deploy that capital, rather than horde it. If capital holders don’t actually deploy that capital and compete with each other, then you don’t have a capitalist system anymore. You have a feudal system, where asset holders extract resources through rents, rather than capital deployment and risk taking.

ryanjshaw 10mo ago
Can you point me to the data showing how much capital is horded?
- smallmancontrov 10mo ago
  "Is the capital being deployed for rent seeking or for taking economically useful risks?" is a judgement call. You won't find it listed in a FRED time series. When every industry is on a multi-decade streak of consolidation, when McDonalds is about land speculation rather than serving food, farming is about land ownership rather than growing food, airlines are about credit cards rather than transportation, it's not unreasonable to believe that a substantial amount of capital is being deployed towards rent-seeking rather than economically useful risk taking.
OGWhales 10mo ago
Would this not still be the case even if labor wasn't entirely outpaced by capital?