Why are folks so anti-capitalist?locked
Hi all,
I'm seeing a lot of hate for capitalism here, and I'm wondering why that is and what the rationale behind it is. I'm pretty pro-capitalism myself, so I want to see the logic on the other side of the fence.
If this isn't the right forum for a political/economic discussion-- I'm happy to take this somewhere else.
Cheers!
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Capitalism isn't necessarily bad, but unregulated capitalism encourages the most cut throat to thrive.
Capitalism is a great economic model when you can have a competitive market, but oligopolies, monopolies, and monopsonies are natural. After you have no where else to go, labor is a cost, and capitalism encourages the cut throat to minimize that by any means.
Also, even right wing economists agree there are some market failures within capitalism. It encourages you to not consider the economic impact outside of your company. These are typically referred to as negative externalities.
Smokers are a negative externality to the health care system. When a corporation gets hacked, their clients suffer the consequences for when their stolen data is abused. No corporation can stop all other corporations from polluting with cheaper energy, and the most cost effective will thrive in a capitalist system. So all corporations have to choose dirtier cheaper energy.
These are all examples of market failures. Regulation compatibile with capitalism include taxing negative externalities and using that money to subsidize positive externalities.
Tax smokers and use the money to fund health care. Fine corps for getting hacked and subsidize hackers to pen test systems. Tax dirtier forms of energy and subsidize greener sources.
I'm also fascinated by cyberpunk dystopias, but I prefer never to live in them.