this post was submitted on 18 Apr 2025
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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.
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.
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.
That's not really an accurate overview of what constitutes Capitalism and Socialism. Capitalism is not "markets" and Socialism isn't government services, either. They are each determined by which aspect of the economy is principle, ie in control of the state, large firms, and key industries. Private Ownership as principle is Capitalism, Public Ownership as principle is Socialism. Both systems have a private and a public sector, but the trajectory of the system is very different.
It sounds like you're talking about the Nordic countries, ie deteriorating Imperialist states that are seeing crumbling worker protections and rely on super-exploitation of the Global South to subsidize cost of living and safety nets.
That sounds lovely to me!