this post was submitted on 28 Jun 2025
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Right
Yes, capitalism greatly expanded the scale and speed at which things could be produced. But how do you keep capitalism 'real' and prevent the issues you described in your first comment?
I don't want to keep capitalism real I was simply using a expletive to emphasize the difference between what we think capitalism is or what was at some point to what it is now which is more like a corporate oligarchy.
I offer no real solutions because they're impossible at the moment; to rid ourselves of capitalism we first have to get rid of scarcity to get rid of scarcity we need to resolve our energy issues and to do that we need to figure out a way for all the governments to cooperate with each other and to do that... so on and so on.
My analysis of our current capitalistic system was in detriment to it. A corporate oligarchy is inherently an evil system.
I do not support nor want capitalism to be our financial system as we are clearly moving backwards.
The fundamental problem with capitalism is that in most sectors, free competition is wasteful, and a monopoly or cartel is more efficient. So, in the absence of strong anti-monopoly laws - something anathema to capitalism - these sectors will end up dominated by one or a few players. And then they will vertically integrate, further shutting out any competitors.
Take carmaking. If we did not have tariffs, import regulations, subsidies for local manufacturing, etc. (all government interventions), BYD would have 90% of the world car market in a decade. They have the best batteries and the most efficient supply chain - the only constraint would be how quickly they can scale up manufacturing!
So either we accept some government regulations to protect capitalism from itself, or we nationalise the largest and most mature companies and run them for public welfare rather than profit. Social democracy, or socialism. These are the only 'good' ways out. The alternative is whatever horrors England had during the Industrial Revolution, and the collapse of our environment due to overexploitation.
Your critical analysis of capitalism is spot on. Monopoly is definitely more efficient than competition.
But your solution is incorrect. Socialism is not the answer. For one thing it still uses a monetary faith based currency system. And more importantly it's literally never worked.
I'll ask you what I ask everyone I encounter that attempts to support socialism: which socialist country past or present would you like to live in?