this post was submitted on 20 Aug 2023
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Honestly, I think capitalism wouldn't be so bad if it was limited to what it's good at. Fashion, tech, entertainment, snacks, ect.
But essential food, housing, water, healthcare, even electricity and internet access, the idea that these things that will always have infinite demand is haphazardly controlled through profit motive is disgusting.
Infrastructures should be government controlled and free. Essential resources should have some sort of universal basic "food stamps" system. Then actual money just becomes the luxury "fun bucks" that you don't lose out on if you don't have a lot. For example pet owners would be given a credits for pet food and free vet care, but a silly pet costume would use money.
Disclaimer: This is just a personal idea I've been mulling over, I'm sure there's a million holes in it.
The thing is that capitalism isn't "good" at anything; all value is produced by workers. Fast fashion is an environmental nightmare, development of tech is in the interest of capital (automation shouldn't be a threat to workers), most entertainment is constrained by the diktats of massive corporations, the vast majority of snacks are either unhealthy or extremely overpriced, and workers (particularly in the Global South) are being abused in all four cases
Capitalism is definitely good at some things. Specifically generating wealth. If you're a developing country you want to use capitalism because it will grow your economy as fast as possible. I think once a county has built enough wealth, they should switch to a blended system.
No, if you're a developing country, you want a planned economy. The only reason to allow private capital would be to gain access to foreign technology and to stave off imperialism until you're capable of self-defense