Unchecked capitalism is just as bad as communism. Capitalism kept in check by proper regulations is good. That demands a well functioning democracy however, and is unfortunately quite rare.
Comment on A Day in the Life of an Enshittificator
UniversalBasicJustice@quokk.au 2 days agoWouldn’t that make greed itself the villain? Turns out following a socioeconomic philosophy that can be boiled down to “Greed is Good” leads to deliberatively exploitative and harmful outcomes, even for the “winners.”
NeilNuggetstrong@lemmy.world 2 days ago
fierysparrow89@lemmy.world 2 days ago
It occurred to me that what the US and even UK call capitalism is a lie, ie. their system is not capitalism. IIRC “market forces” and “equal chances” somehow play a central role in the economic definition of it. In reality these forces are distorted by tariffs, nepotism, legalized extortion and the general repression of equal chances.
Valmond@lemmy.dbzer0.com 2 days ago
And solid intitutions and regulations.
scratchee@feddit.uk 1 day ago
We’re always going to have a system that optimises (aka is greedy), it’s just a practical necessity. The issue is what gets optimised. The utopian solution is not to eliminate greed but to make incentives that lets people be greedy for maximum overall happiness (ie make sure people get paid the most when everyone is happiest with the outcome and the environment is minimally affected, etc).