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randomcarbloke | 6 months ago

>or at least not in the selfish sense

Wasn't a requirement, self interest doesn't imply malice.

>capitalism only allows selfish self-interest to flourish

How's that then?

>Capitalism is a form of authoritarianism in that it really only serves a few

You're cooked, market liberalisation has led the world from >80% in poverty to <10% in under 40 years, even removing huge entities like China.

discuss

order

grafmax|6 months ago

Poverty reduction has largely been the result of China’s mixed economy not unbridled capitalism. Guided markets have played a role there - but that’s because they were guided. We don’t have to accept the authoritarianism or any of other effect of markets, simply because markets have played a role in some of the positive outcomes of the past. In fact for the last 50 years in the global north, roughly the same timeframe, productivity has continued to grow but most of that growth has accrued to the wealthiest and relatively little of that benefit has been seen by the median worker.

randomcarbloke|6 months ago

as I said if you remove china from the data the trend is identical.

But regarding China specifically it has been the gradual transition to a more market led economy.