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Nearly 50% of Millennials Reject Capitalism

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  • JaWarrenJaHooker
    JaWarrenJaHooker Member Posts: 2,156
    BearsWiin said:

    As somebody who has taught both political theory and comparative politics at the university level, I always find these threads to be an absolute hoot.

    Did they have trigger warnings back then
  • AZDuck
    AZDuck Member Posts: 15,398
    If the word ends in "ism" then it's probably flawed.

    Francis Fukuyama made the observation in his book "Trust" that folks around the turn of the millennium were making the same fundamental error that the Marxist-Leninists had been making since 1848 - namely, that they were fetishizing an economic tool and transforming it into an ideology.

    Hayek talked about imperfect information distorting markets and Adam Smith's conception of the "invisible hand" of the free market was intended to be guided ethically to produce the greatest benefits for "society at large."

    So if you're talking about "capitalism" as we've seen over the past 20 years, with vulture capitalists, dot-com and crypto zillionaires, all managed by the grasping hand of Goldman Sachs, then there's not much for anyone to be sanguine about.

    Lazy tropes like SOCIALISM =! STALIN/HITLER/VENEZUELA are dead-end thinking.

    If your primary values are liberty and democracy, then those should be the first principles of your way of thinking. How societies arrange their markets for the allocation of goods and services doesn't really much matter to the former two values.

    A free democracy can place limits on its markets. There aren't really any contradictions there. On the flip side, totalitarian states can (and have) engaged in radical "laissez-faire" economic projects when and where it suited them.

    Thomas Piketty's research has shown that income inequality is the most destabilizing element of free societies, and it seems clear that periods of radical social unrest and the rise of despotisms and dictatorships regularly follow periods of great inequality of income.
  • doogie
    doogie Member Posts: 15,072
    It’s not income inequality that’s the trigger, it’s simply comfort.

    Americans are happy with a screen, food and internet connection. Unless and until that changes, there is no risk of Radical Social unrest here.
  • PurpleThrobber
    PurpleThrobber Member Posts: 48,688 Standard Supporter
    doogie said:

    It’s not income inequality that’s the trigger, it’s simply comfort.

    Americans are happy with a screen, food and internet connection. Unless and until that changes, there is no risk of Radical Social unrest here.

    Truth. You fuck with my free porn, the guns and religion compound is going on the road.

  • Gwad
    Gwad Member Posts: 2,855
    salemcoog said:

    No other Economic system has pulled people out of poverty.

    None.

    Jesus christ this place is amazing