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Pyramid of Capitalist System

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71 points mpiedrav | 2 comments | | HN request time: 0s | source
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_def ◴[] No.22256527[source]
In the recent months I've been thinking more and more about the capitalist system and it's flaws. In case of doubt it's about profit and not about humans (ridiculous pharma patents, boeing 737 max; there are countless examples everywhere).

It seems to me that the whole world can't live peacefully side by side by design when everyone is always striving for more money, power and growth. I don't know how to fix this but it's an interesting problem.

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1. growlist ◴[] No.22256657[source]
I'm a fan of Hayek on this - I believe the market is one of the most incredible things every created by humanity, phenomenally complex and information rich, and it stands to reason that there is no way a group of people can ever hope to come close to the market's capability of communicating information about desires from people to producers.

And the best practical evidence we have is that every significant attempt at communism has produced dreadful outcomes, up to and including actual genocide. Communism can only work when every country in the world is Communist, because otherwise people will always want to leave for the Capitalist country where things are better. Draw your own conclusions about where highly visible activists really want to take the world.

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2. salawat ◴[] No.22259195[source]
>and it stands to reason that there is no way a group of people can ever hope to come close to the market's capability of communicating information about desires from people to producers.

So you're saying the market is separate from the components that make it up? The Market is by definition a group of people engaging in the act of producing and consuming services.

If your comment is to be taken at face value, you've just stated that the Market can't exist, because a group of people can't do that, which is to put it mildly ludicrous.

Furthermore, the market is not only well within the realm of doing by a group of people, it can in fact be regulated by the same people who through their collective activity create that thing we call the Market.

It's an outcome. Not a cause. People are the cause, and are therefore the ultimate shapers of the resulting market. A market that implicitly and enforcibly disincludes a thing is no less real and tangible a system than the unregulated idealized market boogeyman everyone assumes will just work.

It just amazes me that economic die-hards dismiss the freedom of market participants to organize and reshape the market through the utilization of organized government policy, yet accept the freedom for private individuals to do the same thing through laissez-faire and non-interference in their business affairs.

A movement in a more socialistic direction is a Market phenomena. Much as many may wish it weren't so.