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by mxskelly 2039 days ago
Exactly this.

You can't take "well this is happening but it's not real capitalism" even though everyone's calling it capitalism. It's capitalism. Capitalism is busted and rewards greed and concentration of wealth.

It doesn't take a galaxy brain super genius to figure out that an economic system that relies on infinite growth doesn't exactly pan out in the long run, and what we're seeing in America today is just the late effects of the capitalist system that we allowed to run rampant because apparently any amount of socialism is communism and scary because reasons I guess.
2 comments
imtringued 2038 days ago
>Capitalism is busted and rewards greed and concentration of wealth.

Capitalism always had a cyclical nature presumably because humans are cyclical. Things go wrong and then they go right and then they go wrong in an endless cycle. It's like an engine that breaks down every now and then. You can fix it and you should.

>It doesn't take a galaxy brain super genius to figure out that an economic system that relies on infinite growth doesn't exactly pan out in the long run

Capitalism doesn't rely on infinite growth. It drives growth by rewarding increased productivity and innovation. However, since it does so through monetary rewards it is entirely possible that government policies make it easier to acquire money through non innovative or unproductive means. QE and low interest rates are a pretty good example of this. That money can be used to acquire competitors or simply stay alive for much longer.

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disgruntledphd2 2039 days ago
But this is not what I'm talking about.

Rewarding greed would indicate that the companies would be making money in some unwholesome way (e.g. selling formula milk to mothers in countries where there is no decent water, leading to the deaths of babies). Ditto concentration of wealth.

What I'm giving out about is the opposite, where money is thrown at these deeply unprofitable ideas which keep expanding on the basis of the greater-fool theory.

That's a really big departure from what capitalism used to mean, and I think it's worth calling this out.

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mxskelly 2039 days ago
Who cares. That's where capitalism is now because letting it run rampant created and caused this.

The bed was made, and now we all get to sleep in it.

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disgruntledphd2 2039 days ago
> Who cares. That's where capitalism is now because letting it run rampant created and caused this.

So you're not engaging with my argument, and just spouting off anti-capitalistic talking points (which I would agree with, if they were any way germane to the points we're making here).

I'm not sure there's much point in engaging further with you. Have a great day :)

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