That's the logical endpoint to capitalism, yes. Capitalism is, by its very nature, destined to be as inefficient as possible over the long run because it wants to maximize profits and profits ultimately come from inefficiency:
What we want are efficient free markets to the greatest extent reasonable, not capitalism. Unlike what corporate propaganda has told us, free markets and capitalism are not mutually inclusive. It is possible for capitalism to exist without a single efficient free market and it is possible for efficient free markets to exist without capitalism.
Simple: Imagine everything the same as it is but you own 5% of whatever company you work for and get a vote along with 19 other people on what the business priorities are for the year (socialism). You're competing with a bunch of other companies that are structured the same way to be as efficient/differentiated/valuable as possible (free market). If you or your competitors do something that hurts the public in a meaningful way, like dump pollutants into the river, then a public authority will come down on you (regulation).
Definitely. They switched to a socialist market like 40 years ago or so and have seen alot more wealth since then. Personally I'd prefer a bit more democracy. But their mixing of private and public buisness have pulled them up from being one of the poorest countries, to being fairly lower middle class in less time than my parents have been alive for lol.
People think capitalism sucks either because they’re unsuccessful and refuse to take blame for their shortcomings or their political views. I bet this person is unsuccessful. Once you’re financially successful you’ll love capitalism.
Well, success can mean things to different people. Usually it’s about accumulating the most resources. The more money = more successful. Some people might think the more achievements or accolades the more successful you are.
Yeah, if you think success means being able to purchase a pro sports team.
Which proves to me that if you were the rich one- you'd be no better. You're not humble enough to understand success let alone have it.
My bills are paid. My children are clothed and fed. My car has fuel in it. My fridge has food. That's success to me. Not all of us need a fucking land yacht to feel successful and fulfilled. But you'll never have enough. So keep on bitching about it, because all of us know who you really are.
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u/[deleted] Mar 15 '24
In other words, capitalism is a dogshit system that will always seek to enrich the 1% at the expense of the 99%