this post was submitted on 01 Mar 2025
767 points (97.4% liked)

World News

41538 readers
3214 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News [email protected]

Politics [email protected]

World Politics [email protected]


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 4 points 23 hours ago* (last edited 22 hours ago)

It seems like you already understand some of the limitations of capitalism. Look into why regulation has gradually been rolled back in the US since the 70s. Why did politicians start to agree with corporate execs demands for lower regulation. Keywords to look up - regulatory capture.

On a separate point, there's plenty of famines that have occurred in capitalist economies due to capitalist exploitation - that is make more money, at the cost of of creating a famine. Some estimates put the deaths due to famines under capitalism higher than those under socialism. I used to simply know only of the famines under socialism and not know of the famines under capitalism.

Finally the capitalism we live in since the Great Depression is significantly different than the capitalism before it. Socialists, actual Marxists in western counties, yes the US included, were actively involved in the policies that created the welfare states across the west along with the regulatory regime. Some of FDR's economic advisors were Marxian economists.

That was the compromise to save capitalism from imminent worker revolution. The unregulated, no-safety-net version of the system had lead to the conditions for such revolution. The socialist policies that averted the revolution in have slowly been dismantled over time and the system is reverting to the pre-Great Depression state. Faster in some countries than others.

If you want to reform capitalism to the point where it can no longer revert to economic liberalism (free market fundamentalism), you'd have to almost completely eliminate wealth accumulation. You could only do that by changing the ownership of the means of production. E.g. all employees in all corporations become equal owners (or controllers) of the machines and therefore the decisions on sharing the wealth those machines produce, instead of those decisions being made by a tiny number of major shareholders. You'd also have to significantly expand the industries operated by the government. At that point you end up with socialism. And yes socialism doesn't mean central planning and no markets. Capitalism doesn't mean no central planning and just markets. We do plenty of central planning in capitalist economies across governments and large corporations.

I'm not asking you to change your mind today. Just pointing out a few things to look into in case you haven't.