Think young people are hostile to capitalism now? Wait for the next recession

Re:Think young people are hostile to capitalism now? Wait fo... by tomp on Tuesday October 22, 2019 @10:49AM (#21324208)

Socialism is just a word that's used as "not capitalism". The point is, though, if the ownership of capitals (means of production) is so concentrated (1% own 90% of capital), then pretty much the only "solution" is effectively disowning them, consequences be damned. That's clearly in contrast to the spirit (and law) of capitalism, hence many (even capitalists) would simply call it "socialism" (or "communism"), even if it's completely different in the details (e.g. not everyone is paid the same).

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Re:Think young people are hostile to capitalism now? Wait fo... by rolltiide on Tuesday October 22, 2019 @11:55AM (#21325139)

I see, so is there a better word instead of this misappropriated colloquialism?

Its impossible to talk nuances of resource appropriation with an evocative term used inaccurately

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Re:Think young people are hostile to capitalism now? Wait fo... by flmontpetit on Tuesday October 22, 2019 @12:40PM (#21325700)

I'm personally hoping "post-capitalism" takes off

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Re:Think young people are hostile to capitalism now? Wait fo... by AstralStorm on Wednesday October 23, 2019 @08:31AM (#21333867)

There are multiple ways to disown companies.

One time tested way is nationalization, explicit by making the owner officials or by making the company leadership national government. (Slightly different effects.) Authoritarian governments prefer former, market based ones the later. (Second example is Korean Chaebols and their big influence.)

The other is directly bestowing workers with ownership or equity, in the extreme converting companies into cooperatives. This is not socialism, but communism. (Not to be mistaken with stalinism or maoism.)

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