As you did point out, a number of problems emerged out of the capitalist system, and the important thing to note is that these problems were not external, but they happen due to the very nature of capitalism. All capitalist systems feed into growing inequalities because some people who own companies (and don't take part in actual production) receive all the profits, whereas the worker barely sustains himself. As long as people who actually work to produce value, don't receive the fruits of their labour, it will be unlikely for society to prosper
Society has prospered with Capitalism. Billions world over and hundreds of millions in India, including my father, have risen out of abject poverty because of a combination of Governmental initiatives and capitalist structures. Capitalism has it flaws but the alternatives are far worse. India tried socialism btw. It failed. We are now a fairly capitalist country with a strong redistribution system. The west isn't doing the redistribution part as well. Once they do, things will be fine, as they were pre 2008.
No it's not. The Government and corporations are equal partners in society's growth. Among the youth in the west, capitalism is going down in favor. Read - www.washingtonpost.com/opinions/2024/04/01/millennials-capitalism-security-retirement/
@polkebol yes Govt should exist but not in market, when they exist in market , it leaves scope for lobbying and making policies in favour of one who wants to monopolize whole market and wants his bankruptcy to be bail out in name of saving jobs. That's what current famous book of ruchir sharma " why capitalism failed" is all about
As you did point out, a number of problems emerged out of the capitalist system, and the important thing to note is that these problems were not external, but they happen due to the very nature of capitalism. All capitalist systems feed into growing inequalities because some people who own companies (and don't take part in actual production) receive all the profits, whereas the worker barely sustains himself.
As long as people who actually work to produce value, don't receive the fruits of their labour, it will be unlikely for society to prosper
Society has prospered with Capitalism. Billions world over and hundreds of millions in India, including my father, have risen out of abject poverty because of a combination of Governmental initiatives and capitalist structures.
Capitalism has it flaws but the alternatives are far worse. India tried socialism btw. It failed. We are now a fairly capitalist country with a strong redistribution system.
The west isn't doing the redistribution part as well. Once they do, things will be fine, as they were pre 2008.
Government backed capitalism is loosing, but real total free market capitalism is growing among western Youth, especially latin america and Europe
No it's not. The Government and corporations are equal partners in society's growth. Among the youth in the west, capitalism is going down in favor.
Read - www.washingtonpost.com/opinions/2024/04/01/millennials-capitalism-security-retirement/
@polkebol yes Govt should exist but not in market, when they exist in market , it leaves scope for lobbying and making policies in favour of one who wants to monopolize whole market and wants his bankruptcy to be bail out in name of saving jobs. That's what current famous book of ruchir sharma " why capitalism failed" is all about