Hi all,
I’m seeing a lot of hate for capitalism here, and I’m wondering why that is and what the rationale behind it is. I’m pretty pro-capitalism myself, so I want to see the logic on the other side of the fence.
If this isn’t the right forum for a political/economic discussion-- I’m happy to take this somewhere else.
Cheers!
No, it absolutely should not work. I can’t even imagine what you are imagining when you say that. HOW could it possibly work long term? Are you familiar with any game theory?
I mean… it has, hasn’t it? It’s worked pretty well for the last ~200 years. Even in China, the successful parts are the capitalist parts.
Yes, it’s costing us in terms of environmental sustainability. This is an externality which can be (but hasn’t been) addressed. A failure of government, not a failure of capitalism.
You should know that most Marxists believe capitalism is an economic engine unlike anything that came before it. That doesn’t mean we can’t build a more rational system. If we wanted to approach the problem scientifically we would study capitalism, understand how it works and came to be, form hypotheses for how to build something better, and then experiment.
I’d also add that the formation of the modern government, ie liberal democratic states, and the development of capitalism are one and the same. Our totalizing market economy can not exist without governments ensuring conditions are right for market exchange to operate smoothly. As such, I don’t think it’s possible to say a failure of governments are not a failure of capitalism. It’s a package deal so to speak.
It’s not a failure of government when the government effectively serves the ruling class (i.e capitalists). It’s a feature, not a bug.