this post was submitted on 21 Sep 2023
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The problem with blanket attacks on capitalism is that it ignores the fact that the US became an economic superpower under capitalism, and we built the strongest middle class in history under capitalism WHEN WE MIXED IN SOCIALIST PROGRAMS.
BASIC economics shows that BY FAR capitalism is the most efficient way to generate wealth.
It sounds profoundly ignorant to be against that system.
Instead, we should be talking about what to do with the wealth it generates.
Bernie Sanders "Democratic socialism" is actually "capitalist socialism". It leaves in place all the profit incentives and machinery of innovation and production, but then it redistributes wealth away from the hoarders at the top, and gives it back to the workers who generated it.
This is a much more compelling system to fight for than just a blanket "capitalism bad!" argument.
Is the generation of wealth really the end goal, though?
On top of that, yes I agree that there are various declinations and modifications of capitalism. And yes, democratic socialism is still a version of capitalism, but one where the harshest edges of capitalism have been significantly smoothed over. Looking at Europe, they are also under capitalism, but implemented significant socialist policies, and the problems there are less extreme than in US. And still, this meme would apply.
I think you mean social democracy. Democratic socialism is a form of socialism.
Social democracy is democratic socialism. It's reformist socialism.
What people actually usually mean is social liberalism, which is liberalism with pretensions of empathy.
No. Social democracy is what nordic countries practice—a capitalist system with relatively strong social and welfare programs. It does not do away with private property and owner class, just tries to reform and regulate it.
Democratic socialism is a socialist system (means of production collectively owned) which is ruled by democratic principles. Instead of reforms and regulations to try and reign in the owner class, it completely does away with private property. You can also have socialist systems ruled non-democratically, by a dictator.