The economist would say all you need is a proper set of incentives to ensure that what's best for the individual is best for the community. The AI-safety researcher would say that every set of incentives you find will have loopholes, and those will be exploited.

I'm not claiming capitalism doesn't work (at least for many definitions of capitalism, and work), but we should acknowledge its drawbacks, acknowledge strengths of other systems that otherwise failed, and hope to find a better model that has similar advantages with fewer of the drawbacks.

I agree capitalism and incentives produce loopholes, but a lot of those can be closed pretty easily with good governance. For example, many of us are tech workers and paid with stock/options/equity. This is a great system to align incentives -- we're all in the same boat to win or lose.

..except when we're not. You often see in-group worker game the system by taking ever increasing cash comp ("i win either way") or special incentive bonuses for managers who ensure delivery. Meanwhile, VCs are on first-out preference shares. Worse, you often dont know this is happening so you continue to think the real game is cashing out your equity.

This is poor governance IMHO. And many workers end up sniffing it out. The ultimate capitalist system would have absolutely guaranteed comp by equity w/o special side incentives.

other systems don't just happen to fail. they were strangled by capitalism. given that, how do you really expect to find a better model with fewer drawbacks and put it in place?

Oh I don’t disagree. Capitalism without regulation can result in poor outcomes for some markets. As you said, regulations can help but also create loopholes that are quickly exploited.

But I think it’s disingenuous to say that a system focused on “we” suddenly solves all the issues with capitalism (which is what the grandparent was trying to infer).

Wrong. Focusing on “us” ends in ruling class and endless poverty everywhere.

Alternatives to capitalism have been tried and it always fails.

Venezuela is the most recent example.

Venezuela is struggling because of a focus on the collective, not because of sactions, blockades, and coup attepts... none of that has any real effect.

A common point in Bitcoin submissions on HN is that a deflationary cryptocurrency would help with the inflationary currency (e.g. in Venezuela) and make it possible for the average person to build wealth.

I just looked up Venezuela's situation. Well, food prices are going up because diesel sanctions prevent farmers from running their tractors. That's definitively not a currency problem.

Alternatives to Monarchy have all been tried, and it always fails.

Focusing on freedom ends up in anarchy and chaos everywhere.

Freench revolution is the most recent exanple - just look at the amount of people beheaded!