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Krasmaniandevil t1_j2sqast wrote

Reply to comment by ianitic in European economies have developed stronger anti-trust regulations, more competitive markets, and more robust consumer protection than the US in the last 20 years. The reason for this is the EU. EU member states are incentivized to empower a strongly independent pro-competition regulator. by smurfyjenkins

When capitalism had to "compete" against communism as an economic system, there was more pressure to emphasize why capitalism works and is better than the alternative. Without a competing economic system, people assume that capitalism is inherently good without considering which criteria are relevant for such an assessment (other than "capitalism allows me to become rich).

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Risk_E_Biscuits t1_j2sto9z wrote

Capitalism is no longer the appropriate term for what we have in the US. People need to stop blaming an economic system and look to the root of the problem, poor legislation and regulations. As an economic system capitalism is not inherently bad; it is our abuse of the legislative process for the financial gain of the few that is to blame for our disparities.

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tifumostdays t1_j2t2h1i wrote

Many here think any capitalist economy will have it's legislation compromised by capital. Europe is only doing better than the US by contrast, I'm sure they still have their problems.

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Risk_E_Biscuits t1_j2v8org wrote

Most economies will be compromised since they are not properly insulated from market forces. I fully agree with your observation regarding Europe in contrast. They have many of the same problems, just different magnitudes.

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Meritania t1_j2tm66h wrote

Poor legislation & regulation is the outcome of neoliberal economic planning which sees the state have devolved interests in industry, which have become monopolies and duopolies with regulatory capture.

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ImmoralityPet t1_j2tljxe wrote

This is like saying that death by organ failure caused by cancer is not death by cancer. Regulatory capture is a feature of capitalism, not a bug.

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Risk_E_Biscuits t1_j2tvclc wrote

Nope, it's a feature of republican democracy. And it is not at all like saying anything about death by organ failure blah blah blah. Quit it with the fallacies.

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Zrakoplovvliegtuig t1_j2wce7f wrote

How is it not a feature of capitalism? Republican democracy itself is compromised by capital...

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Aceticon t1_j2w8vko wrote

Look mate, a system that says "greed is good" and yet expects that Lawmakers and Law-enforcers will work only for the good of the system (i.e. not be greedy) is about as utopian as bloody Communism.

The so called Crony Capitalism is the natural end state of Capitalism as those entrusted with the powers of the State just subvert it to get de facto immunity whilst they pillage it because, guess what, they're as greedy as everybody else and power attracts mainly those who don't feel the burden of responsability towards others when holding it.

The "solution" of less State (i.e Neoliberalism) is even worse as it makes Money the only Power in the land - reducing the power that citizens in democracies indirectly have through their vote - and that way lies either Anarchy or Feudalism (the latter if we're "lucky").

Personally I do believe we need some Capitalism, though heavilly overseen by something else so as to block it from subverting Democracy or destroying our societies through its main actors' natural tendency to cause Tragedy Of The Commons situations at pretty much all levels.

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