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by kashunstva
1603 days ago
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> it's been working well for centuries, It depends on one's definition of _working well_. The neoliberal economic school would wholeheartedly agree. But the disproportionate distribution of gains since the early 1980's says otherwise. Of course, that's a values-laden discussion that's probably not a great fit for HN. If the system works immeasurably well for the 0.1% and dreadfully for the bottom 20% such that on average the GDP trend is positive, is the system working well? The system has been resilient, but I'm afraid I'd don't know what the corrective forces are any longer, given the dysfunctional state of the political enterprise in much of the world. |
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The quality of life for 99.99% of the population has increased more in the last 100 years than it did in the first 10,000 years of the human civilization. For a graphic example consider Charles Dickens *, he documented how people lived in the 19th century and it reads absolutely horrifying and unthinkable today.
Yes the rich are getting richer faster than the poor are improving their lot. However the poor's quality of life went up tremendously - housing, sanitation, hygiene, calories/nutrients, medical care, workplace safety, transportation, life expectancy, education, you name it. There is simply more wealth to go around today. Is the wealth distribution just? We can debate that **. Is the capitalist system improving lives across the board? Most certainly yes.
* or Friedrich Engels
** personally I would avoid this frame completely, but hey