lookupgeorgism @ lookupgeorgism @lemm.ee

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5 mo. ago

If you move towards socialism when you vote left and move towards capitalism when you vote right, isn’t it possible to be halfway and be happy with being there?

Even the analysis of who has the political power. Democracy implies one person one vote, but the US has one dollar one vote. This is not democracy. It is capitalist yes, but it’s also possible to have capitalism with institutions that prevent money from getting too much political power both in terms of influencing politicians and media.

Btw, capitalists are not bound to get richer than workers. Over time, economic theory suggest that this remains in balance due to competition. You will find that the wealth to income ratio has risen over time. But wealth is not capital. Stiglitz argues quite convincingly that the only difference between wealth and capital is the capitalized value of economic rents. This is what I mean by rentier capitalism. Economic rents are the root of inequalities, stagnating growth, recurring recessions, unaffordable housing and urban sprawl. I recommend reading up on Georgism. You probably agree with it a lot more than you think ;)

Public vs private ownership of companies is a case by case basis. Many “capitalist” countries have many publicly owned companies. We used to have even more before Thatcher and Reagan. Now we have moved into a more public private partnership idea, which is a compromise.

Monopolies are able to extract monopoly rents through market power. This is one of the problems of rentier capitalism. That is why we have antitrust laws. We also need a system that prevents political rents from lobbyism for example by making it illegal for politicians to have stocks or to take campaign money from donors. We also have land rents from private land ownership. Singapore has a public land lease model, but a land value tax would achieve the exact same outcome.

In economics you talk about natural monopolies which is when initial investment costs are too high for competitors to exist or when physics or other constraints prevent competition (think of a railway line between two cities). There are many ways to argue that these types of companies should be publicly owned within a capitalist framework.

So yes, there is an in-between. And it depends exactly how much business is left to the government and how much is left to companies. This balance is defined by politics.

I’m getting a bit tired of seeing the communism/capitalism dichotomy. Guys let’s be pluralistic or at least see these two as a scale. There are a lot of solutions in between. Government failures exist just as much as market failures. Let’s focus on the actual root causes of our problems: externalities, rent seeking, private land ownership, too long patents, public good provision, overly complex legal system, information asymmetries in labor markets. We need unions, free health care, cheaper education, carbon taxes, land value taxes, simplified legal system that can’t be taken advantage of. Stop this capitalism vs communism bullshit. That’s not the cause of all this. Your real enemy is “rentier capitalism”.

How does this help “creative dressers”? And what trans overreach are you referring to?

Yeah I also had to read the first title a few times before I realized they were saying the same thing. The change in word order makes you think the object and subject reversed.

Boycut companies with too much market power. They just happen to be quite concentrated in the US.