04-25-2020, 10:52 AM
(04-25-2020, 12:26 AM)MacBerry Wrote: Excellent read of the reality of 20th and 21st Century economics of the "isms" world for that matter. Your writing captures and paraphrases the works and ideas of David Harvey writings. Marx has always been misappropriated by the capitalists as the enemy of the state, while they gathered all the loot. Awesome read!
Great sentence!
I would suggest that a distinction between crony capitalism and large-scale ownership of government by large and wealthy organizations on the one hand, and the freedom of individuals to engage in commercial activity on the other, needs to be drawn.
Somebody who likes food starting a restaurant is practicing capitalism. Somebody renting out their spare bedroom, or adding an apartment wing onto their house, is practicing capitalism. A farmer purchasing labour saving equipment to improve the yield of their farm is practicing capitalism.
I doubt you can come up with a better way of providing day-to-day goods than some form of capitalism. Where it falls down is if it is either unfettered capitalism, or even worse, if it is highly regulated for ordinary people wanting to improve their situation but unregulated for large companies engaging in questionable dealing. Additionally, there are long-term and strategic considerations that require central planning. The stockpiling of medical equipment is one of these.