this post was submitted on 01 Aug 2024
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It, unfortunately, is an efficient distribution of labor, at least relative to other systems. Not because wasting food for profit isn't fucking heinous, but because the mobility of investor capital and responsiveness of market prices is less inefficient than reciprocal economies or central planning.
However, we are at a point in human society where raw efficiency is no longer the bottleneck for our quality of life. Capitalism was an ugly solution to a real problem, but we can probably bid it farewell at this point, if only we can dislodge the elites who benefit from perpetuating it.
Postcapitalist systems can use market prices and, in principle, be Pareto optimal on non-institutionally described states of affair
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As I said, we can probably bid capitalism farewell at this point.