this post was submitted on 19 Feb 2024
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Capitalism is great, it just needs a strong and unbiased referee. Of course that can be said about any political or economic system.
So you're saying strong regulation from some entity that isn't driven by the same motives for profit is needed?
That's my point. You're conflating "market economies" to "capitalism". They aren't the same. Markets existed thousand of years before capitalism.
Just like "capitalism" has been conflated with "market economy", "communism" has been conflated with "socialism". The failed communist states all tried planned economies, which meant no market economies, which are necessary for thriving societies.
Socialism is when the means of production are "owned or regulated" by the government. Strong, well regulated markets are by definition, socialist.
I also sort of slightly disapprove of perpetuating the "well mothing's perfect (so we shouldn't bother trying to fix the most obviously broken bullshit systems despite having solutions)" -notion.