this post was submitted on 20 Aug 2023
63 points (82.5% liked)
Memes
45655 readers
2613 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Socialists don't hate markets, they hate workers not having any power or democratic choice in how they interact in the market.
Workers owning the means of production just means the workers are doing the same work but they are in ownership of the factory and the profits. They will still sell the products they produce in a marketplace.
Market forces on their own produce many if not all of the perverse incentives of capitalism. Only a centrally planned economy, built on a foundation of grassroots democracy, can hope to overcome those incentives by doing economic planning with an eye towards future sustainability and quality of life, rather than towards profitability.
The idea of centrally planned economy ignores the lessons of the past. Bronze Age empires and recent examples all display universal inability to adjust to changes.
It’s the same magical thinking as the blind belief in market forces exhibits.
Priests of “invisible hand of market” ignore information exchange speed limits and market inertia, believing that markets will just magically fix everything in time for it to matter.
Preachers of central planning ignore information exchange speed limits and market inertia (and yes, there is a market, as long as there is goods and services exchange, however indirect) by believing they will have all the relevant information and the capacity to process it in time for it to matter.
Neither is true. Neither school of thought even attempted to show itself to be true.