I wonder how you could make a capitalist system truly fair. Where those who bring the best ideas and create the most value rise to the top over their lifetime.
Maybe aiming for equality of upbringing in all years pre-18/21. 100% estate taxes, we all start from €0. With socialised amenities as well as housing & education.
Although, I think, when you factor in overcoming social issues like race & gender it would become a never-ending challenge.
#Capitalism can never be a fair system. It's based on the exploitation of the working class by the capitalist class. It drives on the accumulation and augmentation of capital, which is determined by wage labor, by giving workers only a fraction of the wages they worked for while the rest either goes back into the business or into the pockets of the capitalists. It's a system with exploitation built into its DNA. Getting rid of capitalist exploitation means getting rid of capitalism.
You may consider reading my post [https://hachyderm.io/@srijit/114041629339916466] regarding my attempt to explain capitalism to a high school student and the corresponding responses from @RD4Anarchy.
I must add that the replies from @RD4Anarchy are more intriguing and thought-provoking than my own.
#Capitalism #EconomicSystem #EconomicSystems #EconomicFreedom
[Part 1/2] My attempt to explain capitalism to a high school student Economic system An economic system is a way that a country or society organizes and manages its resources, such as money, goods, and services. It's like a set of rules and practices that determine how people earn money, buy and sell things, and make decisions about what to produce and consume. Economic freedom Economic freedom means having the ability to make your own choices about how to earn money, buy and sell things, and make decisions about what to produce and consume. It is the freedom to participate in economic activities without unnecessary restrictions or interference. Capitalism Capitalism is an economic system where people can start their own businesses and make decisions about what to produce, how much to charge and where to sell their products. In this system, capital assets (e.g. factories, mines, rail, roads, ports etc.) can be privately owned and controlled by individuals or private companies and labour is purchased for money wages. Profit is the money a business earns after paying for all the costs involved in producing and selling goods or services. The primary goal of capitalism is to make a profit (need not be as much profit as possible) by selling goods or services. This profit motive drives competition among businesses to be the low-cost producer of a certain good and to switch production to more profitable goods if necessary. Economic freedom and capitalism Economic freedom is not only related to capitalism. Other economic systems also provide economic freedom to varying degrees. Economic freedom is important because it encourages innovation, entrepreneurship, and economic growth. When individuals and businesses have the freedom to make their own economic decisions, they are motivated to work hard, take risks, and come up with new ideas. This leads to the creation of new businesses, job opportunities, and improvements in the quality of goods and services. Reference: https://www.imf.org/external/pubs/ft/fandd/2015/06/basics.htm #Capitalism #EconomicSystem #EconomicSystems #EconomicFreedom
@Radical_EgoCom @srijit The capitalist flaws recognised in the second post are major.
@RD4Anarchy I agreed with your point, it is frustrating that we have little choice when it comes to the economic system we live under. But socialist ideas have been overly demonised in all political discourse.
I'm for change that improves the lives of my compatriots whether it be patching some of the many holes in capitalism or voting our way slowly to socialism.
"Voting our way slowly to socialism" isn't a realistic option. The resistance of the ruling capitalist class to any kind of substantial change that would legitimately threaten their power prevents "voting our way to socialism" or any kind of reformism from ever working. Abolishing capitalism and creating socialism will require the forceful abolition of capitalism against the capitalists wishes, i.e., a revolution.
#socialism #communism #capitalism #anarchism #revolution
@Radical_EgoCom @srijit @hachyderm.io
Of the revolutions of the last century, the people that rose to the top of those hierarchies were too often strong men and thugs. They would miss opportunities to implement the strengths of leftist economics leading to unnecessary pain and hardship for the masses.
Capitalism is a house of cards where those at the bottom bear the load. But without a benevolent series of revolutionaries for socialism, I worry, we will end up in the same capitalistic mess
If by "a series of benevolent revolutions" you mean "voting our way to #socialism," that won't work. Emancipation for workers can't be achieved only through participation in a rigged electoral system designed to perpetuate the interests of capitalists. It requires a relentless and organized movement of the workers to dismantle capitalism. Any attempt to seek gradual change within the confines of #capitalism is doomed to fail and will only serve to reinforce the status quo.
You could very well be right. Maybe my community work & voting will amount to nothing. I have thought about this previously as someone at the bottom of society who stands to gain from any restructuring.
However, I couldn't risk the Petrograd Revolution resulting in Reds versus Whites and the following Purges. The thought makes spending my next 30 years paying down this mortgage and scurrying as a participant in the rat race sounds pleasurable.
Luke Leal Barros
𝗖 𝗔 𝗧
Srijit Kumar Bhadra