this post was submitted on 21 Sep 2023
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The problem with blanket attacks on capitalism is that it ignores the fact that the US became an economic superpower under capitalism, and we built the strongest middle class in history under capitalism WHEN WE MIXED IN SOCIALIST PROGRAMS.
BASIC economics shows that BY FAR capitalism is the most efficient way to generate wealth.
It sounds profoundly ignorant to be against that system.
Instead, we should be talking about what to do with the wealth it generates.
Bernie Sanders "Democratic socialism" is actually "capitalist socialism". It leaves in place all the profit incentives and machinery of innovation and production, but then it redistributes wealth away from the hoarders at the top, and gives it back to the workers who generated it.
This is a much more compelling system to fight for than just a blanket "capitalism bad!" argument.
Is wealth really the one thing we should be capitalism thankful for? I wouldn't argue that it helped make so many advancements in so many fields in such a short time, but from my understanding, wealth isn’t really something that helps living a better life. Wealth is more a by-product of hoarding. Like if someone would hold the monopoly over something like housing, they would have immense wealth. If all houses were to be distributed, so that in this theoretical village everyone would have a house, this would still lower the overall wealth of the village. First of all the houses would be priced more competitively and secondly no one would be in desperate need of a house and thus wouldn’t buy houses at an impractical price. I would agree with you that throwing away all lessons learned from capitalism is a bad idea, but wealth isn’t it.