Greed is not the cause of capitalism. Capitalism exists to create value for society. My grandfather, an immigrant, opened a bakery 50 years ago to serve his community and raise his family. I, an immigrant, opened a grocery store 10 years ago to serve my community and raise my family. Capitalism can be honest & hard work. In both cases, community over profits was a core principle.
Greed comes with accumulation and has to be restrained.
Capitalism doesn’t really exist soley in the micro, you must factor in the macro. A small gorcery store exists in the context of Capitalism, it isn’t Capitalist itself. The purpose of Capitalism systemically is Capital accumulation and the increase in profits through the general process of converting money into commodities, and into a higher quantity of money, thus seeding even more money for more commodoties and even more money after that in an endless loop.
The purpose of Capitalism systemically is Capital accumulation and the increase in profits through the general process of converting money into commodities in an endless loop.
I disagree. The purpose of capitalism systemically is to simply allow for value creation for the entire ecosystem (customers, employees, vendors) and give anyone the individual freedom to do so.
Current Western flavor of capitalism has allowed short-sighted greed to take over because Wall St demands so.
On an ideological level, you and I are the same - community over commerce. I support capitalism only under such principles.
Capitalism did not arise out of ideological reasons, but as a material process with the shift from small manufacturing to large industry. It arised historically, not because it is natural (it’s only a few hundred years old) nor because someone thought it was a good idea. The mechanical process is as I described. Ideological justifications for it, ie liberalism, arose after the fact.
Value is created even in non-Capitalist systems, and further, western Capitalism is Capitalism of a more developed stage. You cannot perpetuate small market mechanics, small firms will either grow or die. Once markets coalesce, there really is nowhere to go but revolution and Socialism, or barbarism and collapse.
I think the way forward is to have socialism provide all necessities for people - meal kits, utilities, shelter, transport, free gasoline, healthcare, and so forth that are designed to be boring but effective. Capitalism can be used to obtain luxuries - a wider variety of food, fancier cars, bigger houses, brazilian buttlifts, singing bass decorations, and so forth. Money is solely used for such things.
By doing it this way, people can choose to protest or strike without suffering too much from doing so. Work becomes optional, since survival is ensured. Combined with imposing floors and ceilings on wealth, we can promote democracy and socialism, without sacrificing the vitality of a healthy capitalism.
