Hi all,
I’m seeing a lot of hate for capitalism here, and I’m wondering why that is and what the rationale behind it is. I’m pretty pro-capitalism myself, so I want to see the logic on the other side of the fence.
If this isn’t the right forum for a political/economic discussion-- I’m happy to take this somewhere else.
Cheers!
Yes, until you do something about your neighbors.
In case of (classical) socialism, since it is tried in many countries, I will argue it will fail again, unless something is changed. And I am arguing that that something is human nature. So, while we are the same humans, this will not work as effective as capitalism.
Ironically, I think Karl Marx understood this. This is why he was arguing for world-wide revolution. But Lenin changed this into “building communism in a single country”. Since half of the developed world continued to be capitalistic, it become quite obvious that people in capitalist countries live better (on average), and the soviet empire disintegrated.
Marx definitely did not believe capitalism would produce more surplus than scientific socialism. However, I doubt he believed it was a switch you could throw and suddenly have a more productive economy. His point was that you could approach the problem scientifically. Through hypothesis testing and experimentation you could develop something more rational than the anarchy of the market.
That said, communist governments haven’t ever found themselves in a position where they can safely experiment with a planned economy. The USSR was struggling for decades to defend itself from foreign adversaries. That’s why it developed a tightly controlled and powerful bureaucracy which eventually led to it’s downfall. It’s also why China and Vietnam decided it was safer to experiment with market reforms given that they are at an economic disadvantage to capitalist countries. Other attempts at building a socialist economy have been thwarted by either US backed coups or sanctions, as was the case with Chile and Cuba.