this post was submitted on 20 Aug 2023
48 points (79.3% liked)
Memes
45173 readers
1660 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The thing is that capitalism isn't "good" at anything; all value is produced by workers. Fast fashion is an environmental nightmare, development of tech is in the interest of capital (automation shouldn't be a threat to workers), most entertainment is constrained by the diktats of massive corporations, the vast majority of snacks are either unhealthy or extremely overpriced, and workers (particularly in the Global South) are being abused in all four cases
Capitalism is definitely good at some things. Specifically generating wealth. If you're a developing country you want to use capitalism because it will grow your economy as fast as possible. I think once a county has built enough wealth, they should switch to a blended system.
No, if you're a developing country, you want a planned economy. The only reason to allow private capital would be to gain access to foreign technology and to stave off imperialism until you're capable of self-defense