this post was submitted on 20 Jul 2023
393 points (100.0% liked)
Asklemmy
1454 readers
60 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Capitalism isn't necessarily bad, but unregulated capitalism encourages the most cut throat to thrive.
Capitalism is a great economic model when you can have a competitive market, but oligopolies, monopolies, and monopsonies are natural. After you have no where else to go, labor is a cost, and capitalism encourages the cut throat to minimize that by any means.
Also, even right wing economists agree there are some market failures within capitalism. It encourages you to not consider the economic impact outside of your company. These are typically referred to as negative externalities.
Smokers are a negative externality to the health care system. When a corporation gets hacked, their clients suffer the consequences for when their stolen data is abused. No corporation can stop all other corporations from polluting with cheaper energy, and the most cost effective will thrive in a capitalist system. So all corporations have to choose dirtier cheaper energy.
These are all examples of market failures. Regulation compatibile with capitalism include taxing negative externalities and using that money to subsidize positive externalities.
Tax smokers and use the money to fund health care. Fine corps for getting hacked and subsidize hackers to pen test systems. Tax dirtier forms of energy and subsidize greener sources.