this post was submitted on 29 Feb 2024
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Market economies are actually pretty great for a lot of things. The problems we have in capitalism are 1. the capitalist class, who make their living without contributing anything by min-maxing wages and prices, and 2. the privatization of necessities.
A market economy for non-essentials would work splendidly so long as the income of each business was distributed to the people who actually did the work. The problem is non-working shareholders. Every worker should be a shareholder, every shareholder should be a worker. Market socialism is the way.
Market economies cannot work efficiently for essentials. If the alternative to a purchase is death or serious injury, it ceases to be a voluntary purchase, the downward pressure of abstinence vanishes, and prices skyrocket. We've seen this in healthcare and housing. We need a public option for both.
Profit motive still forces enshittification, unfortunately.
https://en.m.wikipedia.org/wiki/Market_socialism
There's also a lot to be said about financial norms and systems, for instance regardless of the organization of labor the way we measure GDP is fundamentally a very flawed and arbitrary approximation of "wealth" yet it is the driver behind so many political decisions. My (admittedly unqualified) understanding is thst we could significantly improve quality of life and market efficiency by addressing some of these flaws.
Market Socialism would be a great improvement in stability and quality of life, but it wouldn't solve enshittification outright, because the profit motive is still there. Ideally that would be phased out.
Every improvement is incremental, a stable system is developed by individual steps in the right direction. Overly ambitious changes tend to regress back to the last point of stability.
I think if we can steer this burning trash pile into a regulated coop-based economy, with a star-based voting system (I'd settle for ranked choice at this point), whose economy isn't propped up by the cheap exploitation of developing foreign nations, I'll be much happier. While we're at it, solving homelessness and developing more sustainable infrastructures would be great.
This is the way
You had my interest but now you have my full attention.