Capitalism means different things to different people and in different contexts.
Separation of ownership from management. Tradeable claims on the firm. Legal personhood of the firm. Private property. Free trade between countries. Market determined prices.
But it’s lazy and wrong to use it as a synonym for greed. Despite Gordon Gecko, greed is not good. Just seeing something we consider bad and saying “Capitalism” is a pose and not an argument.
It doesnt forbid but it strongly inhibits. A system under which you are able to acquire vast resources then creates the ability to use those vast resources to sway the political process in your favor.
Even when the regulations exist (e.g. antitrust) regulatory capture will inhibit their enforcement.
It's surprising how many people consider this process to be somehow irrelevant or out of scope when you analyze how capitalism functions. It's a core feature.
Is Life a bad word? No. It's a beautiful word. Does it contain the good, the bad and the ugly? Of course.
Is Capitalism a bad word? No. It's a beautiful idea, and it works significantly better than anything else humans have ever been able to think of on a mass-scale. Does it contain the good the bad and the ugly? Sure.
dd36|4 years ago
Jach|4 years ago
acta_non_verba|4 years ago
Capitalism doesn't forbid sensible regulation, it just hasn't happened as politicians don't really understand the space.
China, which runs a completely different economic system has similar issues.
JackFr|4 years ago
Separation of ownership from management. Tradeable claims on the firm. Legal personhood of the firm. Private property. Free trade between countries. Market determined prices.
But it’s lazy and wrong to use it as a synonym for greed. Despite Gordon Gecko, greed is not good. Just seeing something we consider bad and saying “Capitalism” is a pose and not an argument.
pydry|4 years ago
It doesnt forbid but it strongly inhibits. A system under which you are able to acquire vast resources then creates the ability to use those vast resources to sway the political process in your favor.
Even when the regulations exist (e.g. antitrust) regulatory capture will inhibit their enforcement.
It's surprising how many people consider this process to be somehow irrelevant or out of scope when you analyze how capitalism functions. It's a core feature.
jklinger410|4 years ago
conanbatt|4 years ago
jd115|4 years ago
Right?
Is Life a bad word? No. It's a beautiful word. Does it contain the good, the bad and the ugly? Of course.
Is Capitalism a bad word? No. It's a beautiful idea, and it works significantly better than anything else humans have ever been able to think of on a mass-scale. Does it contain the good the bad and the ugly? Sure.
unknown|4 years ago
[deleted]
pydry|4 years ago
jklinger410|4 years ago
It's getting very old.