this post was submitted on 21 Sep 2024
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But it's also not like the person who runs the whatevers has to be beholden to shareholders and profits. They could instead be incentivized to prioritize the collective well being of the workers.
And for that matter, politicians and the bureaucracy also live in a system that incentivizes (to the tune of millions in bribes) them to prioritize the interests of businesses owners, and thusly shareholders and profits, at the cost of the common good. Which is a major reason they can't be trusted.
Or, as has happened in capitalism, people will find ways to bend the system to benefit themselves. Except this time without boards so much as bribable officials and whatnot.
And now we find ourselves at the beginning of the meme.
Also, I find "people are greedy" to be an uncompelling reason to support a system that incentivizes greed and exploitation. If people bending a system to benefit themselves is a problem, then the system should be designed to be resistant to this, in a way that incentivizes promoting the common good. Or at the very least shouldn't encourage these problems.
Capitalism encourages these problems.
Capitalism is explicitly designed for people to benefit themselves at the expense of others. Capital begets more capital in a positive feedback loop that results in massively powerful billionaires.
If you elect representatives, those representatives are checked somewhat by the threat of being voted out. Capitalism has no such check. Sure, ostensibly people can choose not to buy a product, but unregulated capitalism selects for monopolies.
Capitalism was never designed, it emerged from Feudalism. Capitalism was never an idea, but a result of technological advancement, just as Socialism will be from Capitalism.
Just a minor correction, the rest of your comment is broadly correct.
If we're being technical, it resulted more directly from mercantilism than feudalism.