this post was submitted on 21 Sep 2024
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Capitalism is explicitly designed for people to benefit themselves at the expense of others. Capital begets more capital in a positive feedback loop that results in massively powerful billionaires.
If you elect representatives, those representatives are checked somewhat by the threat of being voted out. Capitalism has no such check. Sure, ostensibly people can choose not to buy a product, but unregulated capitalism selects for monopolies.
Capitalism was never designed, it emerged from Feudalism. Capitalism was never an idea, but a result of technological advancement, just as Socialism will be from Capitalism.
Just a minor correction, the rest of your comment is broadly correct.