Comment by TFYS
3 days ago
I don't think regulations are enough. They're just a band-aid on the gaping wound that is a capitalist, market based economy. No matter what regulations you make, some companies and individuals become winners and over time will grow rich enough to influence the government and the regulations. We need a better economic system, one that does not have these problems built in.
Gaping wound that lifted billions out of powerty and produced the greatest standard of living in human history.
Sure, but you can't ignore the negative sides like environmental destruction and wealth and power concentration. Just because we haven't yet invented a system that produces a good standard of living without these negative side effects doesn't mean it can't be done. But we aren't even trying, because the ones benefiting from this system the most, and have the most power, have no incentive to do so.
Those are all results of political corruption, not capitalism. It is the government's job to set the ground rules for the economy.
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Capitalism is a good economic engine. Now put that engine in a car without steering wheel nor brakes and feed the engine with the thickest and ever-thickening pipe from the gas tank you can imagine, and you get something like USA.
But most of the world doesn't work like that. Countries like China and Russia have dictators that steer the car. Mexico have gangs and mafia. European countries have parliamentary democracies and "commie journalists" that do their job and reign political and corporate corruption--sometimes over-eagerly--and unions. In many of those places, wealth equals material well-being but not overt political power. In fact, wealth often employs stealth to avoid becoming a target.
USA is not trying to change things because people are numbed down[^1]. Legally speaking, there is nothing preventing that country from having a socialist party win control of the government with popular support and enact sweeping legislation to overcome economic inequality somewhat. Not socialist, but that degree of unthinkable was done by Roosevelt before and with the bare minimum of popular support.
[^1]: And, I'm not saying that's a small problem. It is not, and the capitalism of instant gratification entertainment is entirely responsible for this outcome. But the culprit is not capitalism at large. IMO, the peculiarities of American culture are, to a large extent, a historic accident.
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Actually, the system that produced the greatest standard of living increase in human history is whatever Communist China's been doing for the last century.
Not century.
Mao and communism brought famine and death to millions.
The move from that to "capitilism with Chinese characteristics" is what has brought about the greatest standard of living increase in human history.
What they're doing now is a mix of socialism, capitilism and CPP dominance. I'm not an American, but I understand FDR wielded socialism too, and that really catapulted the US towards its golden era.
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Almost like they made a great leap forward during that century.
Capitalism.
...and they use money so it's capitalism.
> We need a better economic system
none has been found. The command economy is inefficient, and prone to corruption.
informal/barter systems are too small in scale and does not produce sufficient amounts to make the type of abundant lifestyle we enjoy today possible.
As the saying goes - free market capitalism is the worst economic system, except for all the others.
We haven't really been trying to find such a system. The technological progress that we've had since the last attempts at a different kind of a system has been huge, so what was once impossible might now be possible if we put some effort into it.
There is no system that fulfills your requirements.
It is even easy to explain why: Humans are part of all the moving pieces in such a system and they will always subvert it to their own agenda, no matter what rules you put into place. The more complex your rule set, the easier it is to break.
Look at games, can be a card game, a board game, some computer game. There is a fixed set of rules, and still humans try to cheat. We are not even talking adults here, you see this with kids already. Now with games there is either other players calling that out or you have a computer not allowing to cheat (maybe). Now imagine everyone could call someone else a cheater and stop them from doing something. This in itself is going to be misused. Humans will subvert systems.
So the only working system will be one with a non-human incorruptible game master, so to speak. Not going to happen.
With that out of the way, we certainly can ask the question: What is the next best thing to that? I have no answer to that, though.
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>The technological progress that we've had since the last attempts at a different kind of a system has been huge
And, dare I say, mostly due to capitalism.
> we’ve tried three whole things and are all out of ideas!
Guess it’ll just have to be this way forever and ever.
Free market capitalism does not exist anywhere.
In fact, free market and capitalism are opposites.
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