this post was submitted on 23 Oct 2024
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[โ€“] Cryophilia@lemmy.world 23 points 10 months ago* (last edited 10 months ago) (4 children)

Bracing for downvotes here...

Capitalism is good when properly regulated. Capitalism is an incredible tool for raising living standards, which should be the ultimate goal of any aociety. Disfunctional capitalism produces inequity.

Now I know someone is going to say that capitalists tend to accrue power, to which I say that is EVERY system. They ALL need to be kept in check. Socialism, feudalism, anarchy, oligarchy, it doesn't matter. Someone will try to accrue power. The economic system MUST be subordinate to the government, and ideally that government should represent the will (or at least the best interests) of the people.

I am FIRMLY in the "the system is broken and needs to be fixed" camp. Regulatory capture is a result of disfunctional capitalism. Monopolies are a result of disfunctional capitalism. Cronyism is a result of disfunctional capitalism. Capitalism as a system is not inherently bad except in the way that any system when allowed to run unchecked is bad.

A strong government hand, when wielded by empathetic and civic-minded people, is a requirement for any economic system. Given that, capitalism is the best economic model the world has ever seen.

Edit: pleasantly surprised. Shitlibs assemble?

[โ€“] Adderbox76@lemmy.ca 4 points 10 months ago

No downvote. I 100% agree.

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