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 AnimalMuppet on Tuesday October 22, 2019 @01:51PM (#21326644)

The solution to crony capitalism isn't socialism, though. It's less "crony" - less ability to profit from government connections, which means less government control (or "guidance") of the economy. The government should prevent unfair competition, regulate externalities, and not much else.

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Re:Think young people are hostile to capitalism now? Wait fo... by AstralStorm on Wednesday October 23, 2019 @08:33AM (#21333886)

What if the implemented solution is skipping the capitalism part and just going straight to corporatism? (Rule by corporate oligarchy.)

You have to make a really strong argument why it would be suboptimal - and without spherical cow level microeconomic lies.

Crony capitalism only causes problems because it is not transparent who rules, while generating waste from those that don't and fail.

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Re:Think young people are hostile to capitalism now? Wait fo... by AnimalMuppet on Wednesday October 23, 2019 @11:50AM (#21335854)

First, why do I have to make the really strong argument? The default position is the status quo; if you think it should be changed, you have to make the really strong argument as to why it would be better. You have the burden of proof; the status quo does not.

But corporatism isn't the answer, on even a superficial look. Crony capitalism generates waste from those who fail because they are locked out. But corporatism is wasteful, too, of those who in an open system could have tried and succeeded, but in corporatism are locked out and know it, and therefore don't even bother to try.

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Re:Think young people are hostile to capitalism now? Wait fo... by mumblemumble on Wednesday October 23, 2019 @12:03PM (#21335971)

How about market capitalism?

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Re:Think young people are hostile to capitalism now? Wait fo... by AnimalMuppet on Wednesday October 23, 2019 @12:19PM (#21336135)

I think that answers both my issue and AstralStorm's. It's also the alleged status quo. I think I agree with AstralStorm that the current situation, if not full crony capitalism, at least has more crony capitalism in it than we generally think.

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Re:Think young people are hostile to capitalism now? Wait fo... by mumblemumble on Wednesday October 23, 2019 @12:39PM (#21336348)

Which was more-or-less the point I was originally trying to make. Apparently really poorly, judging by the downvotes.

Well, that, and that there's really only so much practical difference between de facto intermingling of the public and private sectors and de jure intermingling of the public and private sectors. Both invite rampant corruption and abuse.

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