SO. MUCH. THIS.
Yeah, let’s not throw out the baby with the bathwater just yet. Capitalism is an incredible engine, but it needs guard rails.
The whole infinite growth mentality caused by companies being public on the stock market is the real poison I think. So lets just axe the whole thing. No more stock market, every company is private again.
Which means no more stock speculators, or stock buybacks, or market manipulation schemes. Just companies selling their products to consumers based on their own metrics.
Well, for starters, this obliterates most people’s retirement plans, so that’s a bit of a hurdle.
That aside, what would happen is private equity firms and investment banks simply buying up most public companies, so I don’t really see the grand improvement here.
To be honest, you cannot achieve capitalism with guard rails.
Rich individuals will accumulate money then bribe or donate to politicians to earn more money thus more bribes then more influence and so on.
Take USA as an example, big corporations have monopoly on almost everything and you as a citizen cannot do anything about it. Sure you can vote but either way, donations to politicians always win.
EU is better but not much. After GDPR, every website would interrupt you to say how they will sell your data and tell you to leave if don’t like it.
That’s a vague platitude.
Capitalism works becuase we live in a transactional reality. Food could not grow on trees of the tree didn’t take capital (I.e. resources such as nutrients from the soil, light and heat from the sun) to grow that apple. If farmers did not account for the resources the tree needs the tree would simply die.
The issue with capitalism today is that we over apply it and forget to help people who truly need help, and thanks lobbying by sociopathic business owners, we have created a system where we much engage with learned sociopathy to survive and function. We look down at the homeless sick and needy and invent backstories to justify their suffering. They must be drug abuses, violent, lazy, etc cetra.
Capitalism has nothing to do with resources. I think insurance is a great example of that.
We sell nebulous ideas all the time.
If anything our economy is based off of services now.
