It worked pretty well because there were a lot of regulations that kept it in check. Capitalism works fine if it’s regulated either by governments or by workers through unions.
Capitalism works fine if it’s regulated either by governments or by workers through unions.
Both at the same time, and the third necessary component - customer associations, three independent forces as a minimum.
EDIT: This is free market, “market” and not “jungle” - because there are regulated rules, “free” - because all participants are free to associate, including association to delegate association choices. “Capitalism” is a bad word because it’s a term for everything from semi-traditional economies to mercantilism to libertarianism, that has interoperability of resources and assets.
Once capitalism has regulations to keep it in check and a democratically elected government is in charge and willing to do those things it’s no longer capitalism. Capitalism is putting monied interests first and crossing your fingers that the free hand of the market is anything more than a fairy told to naive idiots to make them support a corrupt-by-design system, such that those monied interests can be said to be chosen “democratically”(vote with your wallets).
Capitalism just sucks. It was made up so parasites nobles didn’t have to give up their ill-gotten wealth when feudalism ended. Fuckin’ thing is rotten to its core.
It worked pretty well because there were a lot of regulations that kept it in check. Capitalism works fine if it’s regulated either by governments or by workers through unions.
Both at the same time, and the third necessary component - customer associations, three independent forces as a minimum.
EDIT: This is free market, “market” and not “jungle” - because there are regulated rules, “free” - because all participants are free to associate, including association to delegate association choices. “Capitalism” is a bad word because it’s a term for everything from semi-traditional economies to mercantilism to libertarianism, that has interoperability of resources and assets.
Once capitalism has regulations to keep it in check and a democratically elected government is in charge and willing to do those things it’s no longer capitalism. Capitalism is putting monied interests first and crossing your fingers that the free hand of the market is anything more than a fairy told to naive idiots to make them support a corrupt-by-design system, such that those monied interests can be said to be chosen “democratically”(vote with your wallets).
Capitalism just sucks. It was made up so parasites nobles didn’t have to give up their ill-gotten wealth when feudalism ended. Fuckin’ thing is rotten to its core.