I agree. The US have oligarchic crony capitalism supported by an utterly corrupt political system. Trying to abolish capitalism without restoring democracy and the rule of law is a fools errand. Not like it’s never been tried. And every time it just replaced one ruling clique of assholes with another one.
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melfie@lemy.lol 2 days agoCapitalism may be workable with strict regulation and proper social safety nets. The problem is that we have crony capitalism, which allows billionaires to essentially control the laws, which concentrates power into too few hands, similar to other oppressive forms of government. A key piece we are missing to make capitalism more workable is right in the word itself: “cap”. There should be a cap on how much wealth any one individual can accumulate.
Diplomjodler3@lemmy.world 2 days ago
FlyingCircus@lemmy.world 2 days ago
Capitalism is not reformable because it fundamentally relies on ever increasing rates of profit and exploitation. The first is impossible in a finite world, and the second is untenable to anyone who believes in justice.
melfie@lemy.lol 1 day ago
Corporations that are incentivized to make number go up and grow indefinitely at the expense of all else are a big part of the problem. Proper anti-trust regulation that is actually enforced to limit their size, as well as an aggressive wealth tax to limit individual wealth would go a long way.
Fundamentally, though, capitalism rewards those who seek power over those who contribute to society and also doesn’t incentivize long-term societal well-being. Regulation would only limit how much power any one psychopath can gain. If we could start from scratch and create a new society with any system we wanted, it would not be Capitalism.
CybranM@feddit.nu 1 day ago
Which system should it be in your scenario?
Zyansheep@programming.dev 1 day ago
Capitalism while replacing taxes on productive activities with taxes on unjustified monopoly power such as land value taxes to fund a UBI would be better than many past status quos.
melfie@lemy.lol 1 day ago
I have no idea what would truly work in the long-term. Is there really a system that is immune from psychopaths eventually seizing control while everyone else passively allows it, then when it gets bad enough, the guillotines finally come out, rinse and repeat?