There’s nothing wrong with capitalism. The problem is late stage capitalism which we’re in. Also they didn’t anticipate how the world would change when the idea was constructed. Like “the right to bare arms” when it was written was quite different than it is now.
I feel like this is like saying “there’s nothing wrong with skydiving without a parachute, it’s hitting the ground that’s the problem”.
The very nature of how capital is designed to accumulate under capitalism makes avoiding late stage capitalism impossible. The ownership class will always accumulate enough capital to exert more and more control over the government meant to regulate its greed. Eventually creating a cascading effect that destabilizes the markets ability to distribute resources in a way that can support a civil society.
Capitalism, within a strong regulatory framework, a strong government that provides for the poorest and protects the weakest is a perfectly valid system and was how the liberal democracies of the 20th century were able to have such an explosion of quality of life for their citizens and innovation.
It’s only when the balance of power shifts away from states and towards corporations do we see the corrosive effects of unfettered greed on society as a whole. Was capitalist democracy perfect in the 1920s-1980s? No. Did its benefits outweigh its harms for the ordinary person? Most definitely.
Its also a testament to the broad success of capitalism that we’re all able to tap into our screens and have this very conversation now.
There’s nothing wrong with capitalism. The problem is late stage capitalism which we’re in. Also they didn’t anticipate how the world would change when the idea was constructed. Like “the right to bare arms” when it was written was quite different than it is now.
I feel like this is like saying “there’s nothing wrong with skydiving without a parachute, it’s hitting the ground that’s the problem”.
The very nature of how capital is designed to accumulate under capitalism makes avoiding late stage capitalism impossible. The ownership class will always accumulate enough capital to exert more and more control over the government meant to regulate its greed. Eventually creating a cascading effect that destabilizes the markets ability to distribute resources in a way that can support a civil society.
Capitalism, within a strong regulatory framework, a strong government that provides for the poorest and protects the weakest is a perfectly valid system and was how the liberal democracies of the 20th century were able to have such an explosion of quality of life for their citizens and innovation.
It’s only when the balance of power shifts away from states and towards corporations do we see the corrosive effects of unfettered greed on society as a whole. Was capitalist democracy perfect in the 1920s-1980s? No. Did its benefits outweigh its harms for the ordinary person? Most definitely.
Its also a testament to the broad success of capitalism that we’re all able to tap into our screens and have this very conversation now.