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Simple question: Do you think capitalism should be abolished? Please explain why not if your answer is "no."

@Radical_EgoCom Capitalism is a society’s answer to five basic questions (See Robert Reich’s book on capitalism.) The questions are valid, but the way we answered them sucks. We need to answer the questions better.

@Radical_EgoCom What can owned and under what conditions? What can be sold and under what condition? How much market power should an entity be allowed to have? How do we deal with economic failure? What laws should address questions 1-4?

@brancheb

When feudalism was overthrown, capitalism answered these questions in the best way people could think of, but these answers, despite being sufficient back then, are now not only insufficient, but are actively harmful (extreme wealth inequality and climate change are two examples). Socialism answers these questions far better now for the modern world than capitalism does:

1/4

@brancheb

1. What can be owned, and under what conditions?

The means of production can be collectively owned by society through the state, and personal property can be owned by citizens.

2. What can be sold, and under what condition?

Goods and services can be produced collectively and sold under conditions that serve collective interest instead of profit.

2/4

@brancheb

3. How much market power should an entity be allowed to have?

No entity should have significant market power. It must be restricted to prevent exploitation and ensure equitable distribution.

4. How do we deal with economic failure?

Through collective planning and state intervention to address failures and prioritize the needs of the people.

3/4

@brancheb

5. What laws should address questions 1-4?

Laws that mandate collective ownership of key resources, regulate transactions to ensure social benefit, limit market power to prevent capitalism, and promote state intervention in economic failures.

4/4

@brancheb

Do you even know what capitalism is? What I just described is literally socialism, the collective ownership of the means of production, not capitalism, the private ownership of the means of production. Literally nothing in my answer can in any way be considered a version of capitalism. Please educate yourself on the differences between capitalism and socialism. You're very wrong.

Elliott Branch

@Radical_EgoCom Don’t confuse political economy with something that has an answer.

@brancheb

What I described was socialism, not capitalism. That is what I want you to understand.