this post was submitted on 13 Feb 2024
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No I don't think capitalism created minimum wage. I think capitalism created factories and advanced technology. Minimum wage and regulations came from the people demanding rights. The workers in France and Norway are not pissing in bottles like the workers in America. France and Norway are still capitalist countries, their workers just have more rights and protections because they demanded that from their governments.
My point was capitalism isn't inherently a flawed idea nor is any other economic system. Regardless of what system is chosen, the people need to have rights. Economic systems don't address that; governments do.
American workers being mistreated is a failure in the American government, not capitalism. Nearly all countries on Earth are capitalist, and there are many where the workers are very happy and healthy.
Capitalism didn't create factories or advanced technology. It grew alongside them, yes, but did not itself create them. At the end of the day, Engineers designed them and workers built them, not one person owning tools.
France and Norway are seeing rising disparity as Capitalism reaches a later stage. The workers have more power than in, say, the US, but not enough to stop or reverse disparity from increasing.
Capitalism is inherently flawed. From the fundamental exploitation within, to the Tendency for the Rate of Profit to Fall, to the tie with Imperialism, Capitalism naturally gets worse over time. "Enshittification."
American workers being mistreated by Capitalism because the Capitalists are strong enough to manipulate government in their favor is a fault of Capitalism. Even the happier Capitalist countries like the Nordic Countries are seeing increased rates of disparity and sliding protections. Competition pushes for this increased exploitation.