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by wladimir 5343 days ago
The inevitable effects of capitalism as taken to the extreme, losing any sense of humanity. Which seems to be where we're going. However, I don't agree it has to be this way. Comments like yours push any form of capitalism into the bad stuff corner, throwing out the baby with the bath water IMO.
1 comments
brycecolquitt 5343 days ago
It's not that any and all forms of capitalism are bad, but capitalism has its benefits and its drawbacks. Obviously, there are lots of benefits. The aforementioned effects are some of its drawbacks.

I'm not sure why people have this notion that we can only take the good parts of capitalism and leave out the bad parts. It seems this is what you're suggesting--but how would we do that? Because when you do, you're most likely making the economy _less_ capitalist, and more of a mixed market economy.

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wladimir 5343 days ago
You get the good parts of capitalism by not treating it as the end-all solution to everything, but using it as a tool where appropriate and curbing its excesses where necessary.

Seems that what you call a mixed market economy is exactly what I meant. It worked for a long time for quite a few countries here in Europe, until "free market" was suddenly considered a panacea for everything according to the ones in power. Before we got to the casino-economy of today...

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brycecolquitt 5343 days ago
I agree with you. I think the free market infatuation many US politicians have without truly understanding it is a major reason for our predicament.

That said, a free market is capitalism at its purest, and in a free market, we'll get sweatshops and the like (which are very sought-after jobs in developing countries).

I guess my point is: semantics matter. If we want to push back against these effects, I think it's important to realize we're actually pushing ourselves away from capitalism and more towards a mixed market economy, which is a good thing in my judgement. But we shouldn't see a mixed market economy and call it capitalism, because they're not the same thing--mixed market economies attempt to mitigate capitalism's negative effects.

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