Capitalism is the manifestation of the aggregate human psyche. We've agreed that this part of our selves that desires to possess things and the part that feels better when having even more, is essential. This is the root we need to question, but have not yet dared to question. Because if we follow this path of questioning, and continue to shed each of our grasping neuroticisms, the final notion we may need to shed is that we are people, individual agents, instead of nonseparate natural phenomena.
We will have to confront that question eventually because we will always have to face the truth.
Unimaginable wealth means you live as comfortably as you want. no wealth means you are out on the streets and can't even afford the basics needed to get yourself out of the rut society threw you in.
If I'm to take this as a comparison of "wealth ends up in the hands of one", the difference with communism is that the one with the wealth still needs to distribute it, lest they are driven out by a coup or by annihilating all the power they had (the power over their people, who are now dead or fled).
Captistlism makes no such promise of distribution, and who to uprise against is much less clear. toppling a monopoly leader also doesn't necessarily destroy the institution either.
>the final notion we may need to shed is that we are people, individual agents, instead of nonseparate natural phenomena.
If we give up our humanity to someone else, we may as well be. But that's not something I relinquish easily.
If the "fitness function" of the system is "produces more economic value" then it will select for (encourage) the first option because health and enjoyment of the consumer aren't being selected for. They are second-order effects at best, like pollution and other externalities.
I'm reminded of the RFK speech (the dead one, not the death-adjacent Jr.):
"Yet the gross national product does not allow for the health of our children, the quality of their education or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public officials. It measures neither our wit nor our courage, neither our wisdom nor our learning, neither our compassion nor our devotion to our country, it measures everything in short, except that which makes life worthwhile."
(Re-reading this, the part I glossed over is that choosing the cheap/quick meal leaves more time for "work")
Sort of. To add to what the other replies had to say, the US government subsidizes different things. That's why even basic ingredients may have high fructose corn syrup in it. Be it as a primary ingredient, or to try and dillute the actual ingredient you want in that particular piece of food.
and since it's subsidized, these can be cheaper to eat here than to get some good fruits and veggies.
You can name a lot of symptoms of the problem but at its heart there's a lack of accountability in any of our power structures whether they be corporate or government.
What works is the threat of punishment and full liability as opposed to limited liability. Regulations just raise entry barriers and stifle competition which makes the system less fair. It's like trying to prevent a crime before it happens; makes no sense. If liability is limited it means that somebody is not being held accountable for some portion of the damage that they're doing. Limited liability just externalizes the surplus liability to society...
I think capitalism can work if operating on a level monetary playing field within simple guardrails but without regulations. We could have wealth tax above a certain high amount to prevent political power imbalance.
> What works is the threat of punishment
That is what regulations provide.
> full liability
Without regulation and just a court system, this is complete failure. This just ensure that you can harm people who cant afford expensive lawsuits. Which is why big companies who want to pollute preferer this over regulations.
And the most harmed companies are small ones. They do not know in advance what is allowed and what is not.
And yes, some things do need higher bars to entry than others. That's a feature. You don't want just anyone handling the food you eat or the money you store.
By hat metric, capitalism has failed as well. Any successes came from breaking the pure principle and either breaking apart competition (antitrust), regulating competition to comply, or employing non-capistialistic services to support it (social security being one of the big ones).
No point talking in absolutes.
What year do you think was the first year of capitalism? Depending on your starting point, it caused the American Revolution and French Revolution.
It caused destruction of monarchy.
Capitalism assigns a price to this, makes it more efficient. (By allowing people to buy/rent productive things (land, machines) hire people, and buy unproductive setups, improve it, and earn a profit on the effect of the improvement itself.)
If you think "shareholder capitalism" overplayed this, well, maybe, but it seems that manufacturing is getting fucked by tariffs, construction is getting fucked by NIMBYism, and ultimately the world is getting fucked by lack of improvements, by standing still, by regressing to a past that never was despite the costs, and not because people want to make number go up!
Of course there's a ton of problems with power concentration everywhere, but market liberalism correlates with liberty and well-being, and the solution is not USSR-style denial of markets (and in general, behavioral-, and micro- and macroeconomics), it's understanding them, and using taxes to help people to participate in them.
> by regressing to a past that never was despite the costs
People assume that rejecting capitalism requires us to take a step backwards. Why would that be? If you woke up tomorrow and there was more public housing your iPhone wouldn't disappear.
Theoretically replacing capitalism with something else is not the issue. (As long as there are accurate supply-and-demand signals for efficient allocation of resources).
The issue is that people ideologically want to "set" inconsistent supply-and-demand curves. And since there's no signal things look fine and dandy initially. And then the usual smudging of the numbers start to happen. ( https://slatestarcodex.com/2014/09/24/book-review-red-plenty... )
Of course, in a capitalistic system there's a very crude exchange rate for the things we want and the things we have through the profit motive (with all the speculation and technological (im)possibilities and everything added in), but it's usually more "correct" than numbers set by committees of people really really wanting to have something while denying some specific - usually hard to separate - aspect of that. (For example lot of people really don't like it when people 'inherit' easy money for very good reasons and this gets amplified when it comes to real estate, and this is a very big factor why a lot of NIMBY ideas found good traction with young "progressives".)
This is how we get food that has fewer nutrients but ships better, free next-day delivery of plastic trash from across the world that doesn't work, schools that exist to extract money rather than teach, social media that exists primarily to shove ads in your face and trick you into spending more time on it.
In the next 4 years we will see the end of the American experiment, as shareholder capitalism completely consumes itself and produces an economy that can only extort and exploit but not make anything of value.