Asklemmy

Capitalism is just feudalism with extra steps.

Capitalism is currently causing vastly more problems than it is solving. It is concentrating wealth and resources in the hands of the few while the poor and working class suffer.

Capitalism is a system that will always result in long-term oppression of the workers and consumers, corruption of governing bodies, and environmental destruction.

This is because the base idea is wrong. Adam Smith and the Capitalist theorists that came after him claimed that the invisible hand of the market would trend towards better outcomes for the workers and consumers. This would be true if the best way to be profitable was to do good, but that isn't the case.

More often than not, it is more profitable to do harm than good. Firms that seek to always increase profits, which is the fundamental goal of a Capitalist system, will always be incentivized to get as many people as possible to pay as much as possible for as little as possible.

This has been demonstrated over and over again. Think about software platforms for the most recent example. Netflix has only gotten more expensive with worse content and harsher usage rules. Same with YouTube, Twitter, Reddit, Facebook, etc. This is called "enshitification." Companies always want to make more money, that can only happen by charging more, giving less, or creating some kind of production efficiency. And what's the quickest way to make production more economically efficient? Fire workers and make the remaining/replacement ones work harder for longer with the same or worse pay.

Those are some of the practical reasons Capitalism is bad. The theoretical reasons have to do with the way Capitalism tries to justify private ownership and the employee/employer relationship.

How is it ethical that a man who has never set foot on a factory floor, never operated a machine, never worked a double shift because he needed to feed his family, to reap a majority of the produced value of that factory simply because he owns it?

How is it ethical that a man simply because of his privilege of upbringing, can "earn" 100-200-300X more than his average workers? Does he produce 300X more value? Does he work 300X as hard? Is his position 300X more difficult to perform? No, it's because Capitalism justifies such grievous disparities and in fact, rewards them.

Answer this: The person who is told, "you are free to either be abused, or to die." Is that person free in any significant sense?

I used to be a Capitalist, hardcore one actually. But slowly I came to realize that it can only result in one thing long term, collapse and dystopia. I'd be happy to discuss this stuff further with you, just DM me, maybe we can chat more on Discord or something.

1. Friends and family bankrupted by basic medical needs;
2. Friends WITH medical insurance unable to afford basic medications like insulin or asthma control inhalers;
3. The increased atomization of society has led to a collapse of community in most of my country: people don’t care about each other because they can’t because they don’t have the time or money;
4. It has driven us and continues to drive us towards the complete collapse of the biological systems that sustain our planet at an ever increasing rate.

The only thing people can point and do point to is “oh but more people have more cheap commodities.” Great! At the expense of the common dignity of man and the ecosystems in which he depends, an ever smaller class of bloated egotists has gotten rich beyond comprehension while the rest of the world literally burns and melts in the name of increasing fortunes already beyond any and all conception of need. At the same time, the life of the average person is marked by degraded environments, exposures to industrial toxins, has their profession increasingly made precarious, has the cost of living increase while wages stagnate or shrink, and now is plagued by disasters directly resulting from the climate change a fossil carbon economy has caused.

What about any of that should I like? That I can eat a hamburger for $10 that is mostly ammonia-cleansed meat filler…?

Have you not played Bioshock?

Anyway, any extreme "ism" is inherently unstable without the other side balancing itself. That's cos humans are greedy, selfish fucks. The free market doesn't work because humans are greedy, selfish fucks. Pure capitalism will eventually eat itself. On the flip side, pure socialism doesn't work cos humans are greedy, selfish fucks. Pure socialism will eventually reify itself into complete inertia. Capitalism needs the inherent brakes that socialism provides; while socialism needs to incentives capitalism provides. Pure capitalism causes massive boom/bust cycles. Before the Great Depression, there were the Panics that happened about ever 20-30 years, where, similarly to the Great Recession, banks would overleverage themselves, and go bust. What ended up stopping those kind of panics were the socialistic programs of FDR and the New Deal.

Free markets only work when they're actually free, that means no monopolies. We're in an extreme stage of capitalism right now with monopolizes all over the place. There is no free market. Ppl like to say "late stage capitalism" but it's more more similar to the laissez faire capitalism of the robber-barons of the late 19th century. Monopolies everywhere, wealth concentrated in the <1%, etc. Profits at any cost, including human life. Extreme capitalism is also tied into conservativism. This results in "rules for thee, not for me" circumstances. In other words, capitalists and conservatives believe laws should protect them but not bind them; while poor ppl, minorities and women should have laws binding them, but not protect them. This, of course, leads to massive social inequities and social unrest.

For more context, read the the Wikipedia articles on the Triangle Shirtwaist Factory Fire, child labor in the Appalachian mines and how many children died from it, the Pinochet regime, etc. And, more recently, the actions at Amazon by not letting their employees evacuate or shelter from the horrific tornadoes that ripped through IL and collapsed a warehouse where 6 employees were killed (Amazon is being sued for it). The maquilladores in northern Mexico (thanks NAFTA!), child slavery in South and SE Asia (don't buy Nike), and the general destruction of the environment. Hope you're enjoying your heatwave!

Because the unintended consequences of capitalism, due to human psychology, are the destruction of the substrate it relies upon and that humans require for survival (as is so very demonstrable right now), and (again, due to human psychology and our tribal and hierarchical nature) the increasing imbalance of wealth (and therefore power) to a select few (who are generally making the former issue far worse).

Under capitalism, big companies can get together and raise prices arbitrarily simply to raise profits. In theory, customers would switch to less greedy companies but in reality big companies hold larger market advantages. Fuck greedy capitalism.