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this post was submitted on 02 Aug 2024
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Today I Learned
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Capitalism is way further along the chain of economic system development.
It essentially builds upon coinage and debt systems to be able to issue credit for people to invest in land and equipment to increase productivity of workers.
Capitalism is not strictly necessary but it did speed up the productivity development without spreading the gains equally. Right now we have a great opportunity to take these productivity gains and split them equitably via wealth redistribution but people will need to vote left for that.
It's not capitalism itself that is bad it's mostly how it's being used and the built-in accumulation of money that translates to power that translates to political power that's the problem with it.
Capitalism as a force for good is a lie, it's a force for increasing productivity and investment and accumulation of wealth. Capitalism itself is just another tool to be used by the people for the people.