I want an economic system that optimizes the latter, not one that reduces inequality.
Communism is a great example of an economic system aimed at reducing inequality. What it actually achieves is making everyone equally poor.
It creates a terrifying hybrid of the political class and the capital class. Titans of American capitalism are subject to laws because they aren’t the government. And the government butts heads with capital all the time.
Also, markets and money form a distributed concensus mechanism for people to quite literally vote with their money to create a world they want. Unique products, new ways of doing things, tiny shops, giant multinationals, mutual aid organizations and co-ops. It’s all experiments running in capitalism right now.
Central communist planning relies on an infinitely informed class of philosopher kings to run the economy. It doesn’t scale because it can’t. In the absence of information, bean counters and demagogues thrive. That a vibrant world does not make.
Communism just isn’t compatible with incomplete information or human flaws. Capitalism isn’t perfect, but communism is certainly worse.
Why do you want to bring race into a discussion that has nothing to do with race? Fuck off.
SK makes american capitalistic inequality and unfairness look like a playground. Japan is literally dying of its frozen cultural mobility issues.
It feels like you don’t know what you are saying.
Yes, let's just conveniently alter the stats by leaving out all of the countries that are worse.
This isn't reddit, tone down the anger please. Also, maybe look up the definition of mostly before going off in rage commenting mode.
USA poverty rate is on the same level than Turkey. https://data.oecd.org/inequality/poverty-rate.htm
For income inequality rate, USA is also in the worse: https://data.oecd.org/inequality/income-inequality.htm#indic...
That being said the middle class in some of those countries would be poor in the US. Inequality by itself isn’t necessarily bad, in fact it’s necessary in capitalism. It is important, however, to keep as many people from falling out of the middle class as is practical. The US doesn’t do well on that, most western countries do better, but the cut off for middle class in those countries is usually lower.