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    Truth Sandwich 🥪🇺🇸😷 (truthsandwich@qoto.org)'s status on Thursday, 28-Sep-2023 07:38:14 JSTTruth Sandwich 🥪🇺🇸😷Truth Sandwich 🥪🇺🇸😷
    in reply to
    • Alexandre Oliva

    @lxo

    There is no unregulated capitalism. Capitalism can’t exist without the regulations that make it possible.

    There are people who believe in minimally regulating capitalism – that’s laissez-faire market fundamentalism – but practice has shown that this can’t work, and even theory reveals this.

    There are specific criteria required for a market to do its job. To the extent that a real market approximates this ideal, it works. But without proper regulation, it quickly deviates from this goal and becomes mired in collusion.

    I find your criticism of capitalism entirely unconvincing, because the response to any examples of capitalism having bad consequences is to replace it with better capitalism.

    There is no alternative. There are no successful cases of socialism, where the initial command economy turns into a worker-coop paradise. They either fail, switch to a bad form of capitalism, or both.

    I’m going to keep repeating this while ignoring every distraction about “techno-feudalism” or other such nonsense, because it is dishonest to criticize capitalism for traits you cannot improve upon.

    In conversationThursday, 28-Sep-2023 07:38:14 JST from qoto.orgpermalink
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