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- cross-posted to:
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cross-posted from: https://lemmy.dbzer0.com/post/36828107
ID: WookieeMark @EvilGenXer posted:
"OK so look, Capitalism is right wing.
Period.
If you are pro-capitalism, you are Right Wing.
There is no pro-capitalist Left. That’s a polite fiction in the US that no one can afford any longer as the ecosystem is actually collapsing around us."
Capitalism is like fire. Unchecked, it will happily consume your house. Never the less, it’s an excellent tool for certain tasks. It must be handled with care and contained appropriately.
Right now, a lit of the world looks like London during the great fire. Capitalism has been allowed to run unchecked, and has gotten completely out of control. The massive dilemma is how to reign it in, without collapsing large chunks of society.
Abandoning Capitalism completely is almost as bad as letting it run unchecked.
Marx identified that capitalism by necessity leads to an endless cycle of collapses. There is no way to avoid suffering under capitalism.
A fully planned system has also shown to become highly inefficient.
The the key phrase there is “under capitalism”. My point is capitalism can’t be the top level. If it is, then it will run away, exactly as Marx saw.
At the same time, it’s an incredibly effective tool. It allows for dynamic value assessment in a system that has minimal trust. It’s a perfect method of fairly distributing luxuries. It’s akin to a fire being useful when trapped in a fireplace, or a blast furnace. The problems occur when it’s allowed to run amock.
How would you go about fairly distributing limited luxuries, particularly when the value to a given person varies?
Firstly, I challenge the assumption that efficiency is the most important goal. This was addressed very convincingly almost 70 years ago in The Affluent Society:
https://en.m.wikipedia.org/wiki/The_Affluent_Society
This book explains that we should not use the same policies for a society which is constantly struggling on a knife edge between starvation and death. That was not the reality 70 years ago and is much less tha case today.
Even if we assume that efficiency is the most important goal, what you are actually arguing for is well-designed markets as the tool to achieve that. I question even this, since a profitable company is by definition less efficient than one that makes little or no profit, since profit is the extra wealth that the company extracts after paying all bills.
Even if we assume that a for profit market is the best way to manage resources and achieve efficiency, capitalism is fundamentally a bad model for that, since practices like hiding information from consumers or capturing regulators are great ways to increase profits without improving efficiency or managing resources effectively.
tl;dr fuck capitalism. 😉
I agree that a hyper focus on efficiency is a bad plan. At the same time, we would need some corrective mechanism.
A good example would be food preference. Say you have 3 food options, A,B and C. A is the easiest to produce, but bland. B and C are more difficult and so more limited. Some people love B but hate C, others vice versa. Some people would happily just have A, and use the excess value on other luxuries. How do you resolve this?
A limited capital based system would find it easy. Each person has an assigned value. They can choose how to distribute it. This dynamically finds the fairest distribution. By passing it to the farmers, they can choose how to direct effort.
As for regulatory capture, etc. That’s a sign that capitalism is getting out of control. It’s akin to your curtains starting to smoulder. It needs to be used like fire on a wooden ship, with extreme care and control.
I don’t think it should matter, at least not until we’ve guaranteed everyone their human rights. Nutritious food, safe shelter, clean water, medical care.
I don’t think we can afford to worry about luxuries until we solve the problem of affording people.
Right now, we have more than enough to support basic necessities for everyone. It’s mostly a distribution issue now. It’s also being fucked up by run away capitalism creating artificial scarcity.
You will have a hard time getting anyone to join a system that others nothing more than gruel, a grey jumpsuit and a dorm bunk.I would strongly suspect such a system of funneling thr excess to a few elites.
The question is, how to judge values, without a capital based system at all. What is a lead brick worth in corn, or bananas?