Comment on We live in a post scarcity information society and we still haven't moved on from capitalism.

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aesc@lemmy.sdf.org ⁨9⁩ ⁨months⁩ ago

Well, the device you are reading this on is a product of capitalism. Whether it’s a phone or a computer, it has hundreds of chips made at hundreds of factories in at least half a dozen countries, all the parts had to be brought to a place and assembled, then brought to another place and sold to you. And you likely didn’t even have to pay for it in advance before it was assembled and ready for you to use!

Did you eat food today that wasn’t grown near where you live? “That’s just trade” you might say, but it took a significant investment of capital to set up the system of trade that got it to you, at the very least the ship or the train it was transported on, if not the equipment used to grow and harvest it. If you ate a banana or chocolate and you don’t live in the tropics then you only ate those things thanks to capitalism.

Are you wearing shoes? Are they completely hand-made by an artisan, did you commission them to be made and come back in a year to pick them up, or did someone invest in capital so you could buy them in a store?

Did you go to college? Did you pay to have the school built and the teachers hired to teach you, or did someone raise and donate a bunch of capital to create it? Did it own a farm you had to work to pay for its operation, or does it have an endowment it can invest as capital to raise money to pay for some of your education? Just because it’s (hopefully) a non-profit institution doesn’t mean it would exist without capitalism.

Just look at the improvements in the living conditions of a huge portion of the planet over the last 200 years when we had capitalism, then look at the improvements for the 200 years before that. Haven’t there been more improvements in more people’s lives since capitalism than before it?

Look I know it’s not a perfect system, it needs regulation, and it’s not the right tool for every situation but generally it blows mercantilism and feudalism out of the water, and it’s done better than every planned economy so far.

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