this post was submitted on 20 Jul 2023
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Hi all,

I'm seeing a lot of hate for capitalism here, and I'm wondering why that is and what the rationale behind it is. I'm pretty pro-capitalism myself, so I want to see the logic on the other side of the fence.

If this isn't the right forum for a political/economic discussion-- I'm happy to take this somewhere else.

Cheers!

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[โ€“] jlou@mastodon.social 3 points 1 year ago* (last edited 1 year ago) (17 children)

Being in favor of private property and private incentive does not even necessarily mean that you are pro-capitalism. Capitalism as the term is used has three defining features:
- Markets
- Private property
- Employer-employee relationship
One could have a non-capitalist economy that replaced the last one with democratic membership in the firm and still kept the other two features such as a market economy consisting of worker coops

[โ€“] Zyansheep@lemmy.ml 4 points 1 year ago (3 children)

Huh, I use capitalism solely to refer to the first two ๐Ÿค”

[โ€“] jlou@mastodon.social 1 points 1 year ago* (last edited 1 year ago) (2 children)

The reason I include the employer-employee contract is the workers' self-management centering traditions of anti-capitalist thought. In a proper analysis, the employer-employee contract plays a much more crucial role in alienated capitalist appropriation that anti-capitalists like to point to, but cannot usually properly criticize. The employer-employee contract is where the workers give up the right to democracy and the right to the fruits of their labor

[โ€“] Zyansheep@lemmy.ml 3 points 1 year ago (1 children)

So you are defining an ambiguous term in order to better criticise it? That makes sense, but it might not convince people who have different definitions ๐Ÿค”

Like I for example would consider a Co-Op where the employees own the company / have voting power over how its run to be a part of a capitalist system, hell, I'd even consider someone who makes a living as an artist where they own all their tools to be a part of a capitalist system... although I suppose that could also be considered socialist to some degree because the artist "owns" the means of production?

These definitions are kind of difficult to use...

[โ€“] jlou@mastodon.social 2 points 1 year ago* (last edited 1 year ago)

Not defining the term. I am using the term how it is used. I hate to appeal to wikipedia, but they include wage labor in capitalism's central characteristics.
Happy to call economic democracy a variant of capitalism depending on the audience. It is odd tho with labor having a special role.
The difference from capitalism is the right to worker coop is inalienable in economic democracy, so working in a firm automatically grants control rights.
I am not a socialist, so cannot comment there

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