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this post was submitted on 10 Sep 2024
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It's not a failure of anything. Billionaires are an inevitably of capitalism.
Yep.. It's just working as intended. Maybe not as advertised, but...
It’s not about capitalism, it’s about greed. There were and are plenty of greedy people in communist regimes
Except capitalism could otherwise be called "Greed: The Game"
Capitalism takes greed and puts it to work as the center of an economic system. While greed has either destroyed or deformed communism any time it's been tried at scale, there's 100% no separating greed from capitalism - they're inexorably linked.
The Nordic model proves that you can have robust welfare states while engaging in free markets.
China also shows that there’s some value to market socialism, but I am no economist so idk 🤷♀️
Oligarchy-esque politics, monopolies, and favoring short term gains over long term benefits are the main issues currently, I think.
I think many people would agree with welfare states like we have under the Nordic model, but many would not agree with Stalin-like Marxist-Leninism, or similarly extreme economic system.