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marx didn't give the capitalists hell. he just told the truth and they thought it was hell (slrpnk.net)

submitted 3 days ago by stabby_cicada@slrpnk.net to c/memes@slrpnk.net

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[–] FiniteBanjo@feddit.online 3 points 2 days ago (25 children)

Capitalism is a system of distribution of goods with a basis of private property and competitive markets. In the past it has been praised for high rate of innovation and low costs of goods compared to older systems such as feudalism and aristocracy where small states subservient to a crown owned and managed industry.

Examples of Capitalisms:

Every Nation on Earth except for like 2000 anarchists in Mexico and some various Amish communities who refuse to trade. Literally all of them.

[–] stabby_cicada@slrpnk.net 3 points 2 days ago* (last edited 2 days ago) (3 children)

Capitalism is a system of distribution of goods with a basis of private property and competitive markets. In the past it has been praised for high rate of innovation and low costs of goods compared to older systems such as feudalism and aristocracy where small states subservient to a crown owned and managed industry.

Cool. Now tell us why it's been condemned. You've only got half the definition there, and that doesn't count as an honest explanation.

(Also: capitalism may work like that in theory, but it's never been implemented in practice. Every so-called "capitalist" economy has the rich putting their thumb on the scale to make markets less competitive in their favor. The "economics 101" definition you give is so simplified that it's useless for describing any real world economy. But that's another rant.)

[–] FiniteBanjo@feddit.online 1 points 2 days ago (2 children)

Cool. Now tell us why it’s been condemned.

How the fuck should I know what you think?

Also: capitalism may work like that in theory, but it’s never been fully implemented in practice. Every so-called “capitalist” economy has the rich putting their thumb on the scale to make markets less competitive in their favor.

That's where democracy and anti-trust laws come into play to tip the scale the other direction. Many European Nations have done a much better job at this than nations with lower democracy index scores such as China, Russia, and the USA.

[–] mythWizard@slrpnk.net 4 points 2 days ago (1 children)

I suppose that's part of the point. Once the guardrails go up, it's no longer pure capitalism. If the government doesn't get involved to mitigate the consolidation of wealth by individuals and monopolies, then capitalism spirals into plutocracy and competition becomes impossible

[–] FiniteBanjo@feddit.online 1 points 2 days ago* (last edited 2 days ago)

Then capitalism doesn't exist and they're all ranting about imaginary societies they disagree with. Wow. Really puts things into perspective.

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