How is it the driving force behind everything comfortable? If another system was in place are you saying that we would not have had progress towards human comfort? And it seems you are assuming that I wouldn't give up a comfortable life for a more fair and just system with less market externalities? If your measure for success is comfort, then you are the exact person I am trying to convince that we need something else.
Daz1|2 years ago
rajanaccros|2 years ago
This is what largely I am arguing against. I think the benefits of capitalism have been proven, but the negatives are largely brushed aside. I think this form of capitalism is dangerous (and I should have been more explicit about that in my original comment). My original comment was to get rid of publicly traded companies and remove wall street altogether. Private companies can continue to exist and compete but the profit motive to solely deliver growth and profit to public shareholders has distorted the whole system into pro-forma income sheets at the best and to outright devastation and exploitation at the worst. Private companies would be largely in check because they wouldn't grow unchecked by raising capital they don't have by going public. In so doing, they wouldn't be "in debt" (overloaded non-technical sense of debt) to shareholders. This would lead to more sustainability and less growth over everything mindset. The knock on effects I mentioned would contribute to a more just and fair system.
That said, I am not an economist, but I would like to see this world exist for future generations. And this economic system isn't it.
Kbelicius|2 years ago
Why would a for profit company invest into basic research without a clear goal to monetizing that research while their competitor is spending that money on marketing?