[kragen]

This is an absolutist fallacy. The fact that no capitalist market has ever been free of market power doesn't mean that they all function just as badly as Brezhnev-era Soviet "markets" or the US healthcare "market". There are actually existing markets that are more capitalist and less capitalist. Markets mostly organized around government-granted monopolies are by definition failing at capitalism.

I think that very little of your hypothetical US$100 would benefit the patient, precisely the opposite of giving US$100 to every consumer in a capitalist market.

[cloudfifty]

> This is an absolutist fallacy.

Why? You haven't really answered anything with regards to the incentive structure of Capitalism to manipulate the market ASAP. What good "free markets" segments of society even exists today? Restaurants? No, the big chains lobby intensely there as well - less profits if employees earn a living wage.

> I think that very little of your hypothetical US$100 would benefit the patient, precisely the opposite of giving US$100 to every consumer in a capitalist market.

You're missing the point entirely. The comparison if ofc with what would happen if e.g. a Nordic government would do the same thing under a system of universal healthcare.

[kragen]

Almost the entire world economy, by value, consists of more competitive markets than US healthcare. Restaurants, yes, but also the rest of retail, energy, agriculture, transportation, mining, metals, automobiles, clothing, shipbuilding, forestry, fishing, custom manufacturing, industrial food processing, scientific instruments, electronics, electrical equipment, and the financial markets. Some of these sectors don't engage in wage-labor production, or aren't dominated by it, and so aren't capitalist, while others are. Actors in all of these sectors, even the noncapitalist ones, engage in lobbying and other forms of anticompetitive behavior, but they generally aren't successful in obtaining monopoly or monopsony power and thus ending capitalism where it exists.

Sectors that lack competitive markets include the military, healthcare in much of the world, banking, and most of telecommunications.

I agree that business (not just capitalism!) creates incentives to destroy free markets, just as politics creates incentives to destroy democracy. When actors succeed in following those incentives, that ends capitalism by eliminating competitive markets, which prevents the price system from being used to allocate resources. Competitive markets and the price system are central characteristics of capitalism; where they fail to exist, what you have is not capitalism, but something else.

At this point I'm starting to repeat myself, because I've already explained this about as clearly as I know how, and you still apparently don't understand.

[cloudfifty]

That's like saying that a Leninist system stops being Leninist when its vanguard inevitably becomes corrupted, because its vanilla state is - in theory - democratic. But that's ridiculous, each system should be held accountable for the outcome of its incentive system, not just its vanilla state.

[kragen]

If a Leninist system institutes free-market capitalism, as in China, it stops being Leninist, however dictatorial it may still be. As it happens, in this case the incentives usually run to the preservation of the system rather than its extinguishment.

The two examples are temporal inverses of one another. In the situation of capitalism collapsing into government-granted monopolies, free-market capitalism is the first stage, and state central planning is the second stage. In the situation in China, the first stage was a vanguard-party-led society governed by a dictatorship of the proletariat that carries out state central planning, and the second stage is mostly free-market capitalism.

I don't think that anyone ever tried to use "Leninist system" to mean "a system where the government is not corrupt", but maybe I just haven't read enough of Lenin?

[cloudfifty]

China and free market mumbling to avoid a simple accountability comparison? Come on. Your just flailing about to keep some neat image of Capitalism intact at this point.

The only thing this had to do with is what incentive structure each set up and what the expected outcomes of those are.

Leninism:

Concentrate the power into professional revolutionaries, a vanguard, to lead the people into making the "correct" choices.

Incentive: Keep this new and unprecedented amount of power indefinitely.

Outcome: Corruption of whatever ideals they might have had.

Capitalism:

Concentrate the wealth and thus power into businessmen/corporations with the purpose of keep accumulating wealth indefinitely.

Incentive: Use the power and influence of wealth to do just that, accumulate more wealth.

Outcome: Manipulation of rules, regulations, and the market.

This is what they are. This is what we've seen for more than a 100 years for both. This is what they are accountable for.

[denton-scratch]

> Some of these sectors don't engage in wage-labor production, or aren't dominated by it, and so aren't capitalist, while others are

You seem to be relying on a rather narrow definition of "capitalism".

[kragen]

The bit you quoted is the definition made up by the folks who invented the term: https://en.wikipedia.org/wiki/Capitalism#Etymology

But the standard definition I'm using has evolved a bit and is somewhat richer. Quoting the Wikipedia definition:

> Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price system, private property, property rights recognition, voluntary exchange, and wage labor. In a capitalist market economy, decision-making and investments are determined by owners of wealth, property, ability to maneuver capital or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.

I think that is a very good and uncontroversial definition of "capitalism", and that is the one I am using. It sounds like you have some non-mainstream definition in mind?