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!

  • @SailorMossEnglish
    16•11 months ago

    What you’re talking about is a tendency towards monopoly.

    The most efficient way to organize industrial capacity is in large centralized productive systems, because it gets the per unit cost low. These ‘economies of scale’ are the best way to offer the lowest prices to the consumer for industrial goods by far.

    The problem arises because this creates a centralized power structure. We call the people who control this power structure capitalists. The capitalists use this structure to force unfair labor contracts on their workforce.

    The ‘better solution’ is democratic oversight over the centralized productive apparatus. Which can be in the form of regulations from democratic institutions on the centralized productive apparatus; or just as well workers collectively owning the company they work for.

    Matt Bruenig has a some really informative videos on how that might look.

    https://youtu.be/MmeIGcI60oc