this post was submitted on 27 Sep 2023
608 points (94.8% liked)
Technology
59169 readers
2498 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Yeah, let's not throw out the baby with the bathwater just yet. Capitalism is an incredible engine, but it needs guard rails.
The whole infinite growth mentality caused by companies being public on the stock market is the real poison I think. So lets just axe the whole thing. No more stock market, every company is private again.
Which means no more stock speculators, or stock buybacks, or market manipulation schemes. Just companies selling their products to consumers based on their own metrics.
Well, for starters, this obliterates most people's retirement plans, so that's a bit of a hurdle.
That aside, what would happen is private equity firms and investment banks simply buying up most public companies, so I don't really see the grand improvement here.
I hate so much this talking point:
the system has captured the retirements, so we can't abolish it.
Like if we need this load of bull to support retirement, we should rethink everything from the ground up.
The point is that, whether you like it or not, abolishing something that most people are very strongly relying on for the last third of their life is something that's going to be incredibly complicated and met with a lot of opposition.
By all means, re-think away as you like, but don't be surprised when a lot of people aren't exactly a fan of what you come up with.
Provide food and shelter as a human right first, then dismantle everything else, and let people do what they enjoy.
To be honest, you cannot achieve capitalism with guard rails.
Rich individuals will accumulate money then bribe or donate to politicians to earn more money thus more bribes then more influence and so on.
Take USA as an example, big corporations have monopoly on almost everything and you as a citizen cannot do anything about it. Sure you can vote but either way, donations to politicians always win.
EU is better but not much. After GDPR, every website would interrupt you to say how they will sell your data and tell you to leave if don’t like it.
I agree, I don't think any one system is the answer, they all have their strengths and weaknesses... a combination of them would be a better idea.