this post was submitted on 06 Jan 2025
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[–] octopus_ink@lemmy.ml 168 points 4 weeks ago
[–] squid_slime@lemm.ee 40 points 4 weeks ago (16 children)

The flaw in capitalism and the flaw that makes it unmanageable is how over time capitalism will find ways to extract more for less.

This will always fall to the workers. The recent recession had tax payers bail out the banks as well as pay bonuses. all because banks got very greedy.

[–] Juice@midwest.social 38 points 4 weeks ago (1 children)

Its not a flaw, its working as planned. But yeah, our "market solutions", basically any problem created by capitalism just gets exploited for profit. Even when the economy crashes its actually a good thing for the very rich, as it " disciplines" labor, moves people down and out of the middle class which lowers wages systematically, takes out a few competitors, etc.,

[–] PolandIsAStateOfMind@lemmy.ml 14 points 4 weeks ago

Even when the economy crashes its actually a good thing for the very rich, as it " disciplines" labor, moves people down and out of the middle class which lowers wages systematically, takes out a few competitors, etc.,

If you look at it, every crisis always results in transfer of wealth up. Covid was the biggest up to date.

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[–] Cruxifux@feddit.nl 29 points 4 weeks ago

Yes exactly.

[–] insaan@leftopia.org 25 points 4 weeks ago

Strong "I can fix him" energy out there.

[–] LovableSidekick@lemmy.world 20 points 4 weeks ago* (last edited 4 weeks ago) (28 children)

You can be fine with the innovation and entrepreneurial spirit of capitalism and still favor a wealth cap and abolishing laws like Citizens United that give money undue influence on politics. Extreme wealth concentration actually hurts capitalism by starving the spending economy of money. It's a defect in the system that eventually spoils the system.

[–] theacharnian@lemmy.ca 11 points 4 weeks ago* (last edited 4 weeks ago)

Innovation and entrepreneurship is not exclusive to capitalism. People innovated and undertook ambitious projects before capitalism, and they will be doing so after it.

There is nothing inherent to the private ownership of the means of production and the wage exploitation/human rental system we have now that mandates innovation and entrepreneurship. In fact the opposite is visible today, with big companies stifling innovation.

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[–] mr_scrawley@feddit.org 13 points 4 weeks ago (1 children)
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