this post was submitted on 11 Nov 2023
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You still have the problem of misaligned incentives together with the fact that the only way to mitigate it is through coercion. This is why all communism inevitably leads to authoritarianism. The strength of capitalism is that it can absorb and indeed is designed to allow for the fact that humanity's cooperative impulse --due to the fact that we evolved over hundreds of thousands of years to live in small bands of about 30 to 150 people-- cannot work at the level of the modern nation state.
Not really sure what you mean by that. Socialism leads to better alignment of incentives. If everyone is benefitting from the system, contributions to the system are incentivised.
That is the opposite of capitalism, where the individual tries to gain any advantage they can, even at the expense of everyone else. And broad advances and contributions of work benefit very few people, by design. That leads to lower trust, which further entrenches the idea that the individual has to look out for themselves, and is thus incentivised to game to system.
I reject that premise.