Do the people that despise capitalism actually understand how capitalism works?

[bigslab]

most of them do

most of them don't

[normalice]

They don't understand how it is supposed to work but they do understand how it actually works. The problem is every socioeconomic system can work as an ideal. There needs to be contingeny plans and mechanisms in place for when that isn't the case, though. And capitalism rather pointedly lacks those things. It's claim is to "let the market decide," which would make sense if people were smart about their consumer choices. But we are exactly as smart about that as we are our political choices - which is not very. So there is nothing really stopping regional monopolies from forming, which is pinnacle of non-ideal conditions for capitalism, being precisely the thing it promises to prevent.

[abc3643]

Well, it doesn't work for the military which is why the Founders made sure it was a socialist program right in the preamble of the US Constitution.

==============================

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility,

>>>>> provide for the common defence, <<<<<

promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

==============================
The US Military - the world's largest socialist program - successfully doing its job for over 230 years.

[Esperdragon]

that's not how it works...

[abc3643]

@Esperdragon Well, I want you to think about it...
Why would the Founders not trust the defense of the United States to the private sector?

[DCooper]

All they need to know is that free market capitalism requires them to actually work for a living if they want to have food amd shelter.

What they don't know is that under communism, someone puts a gun to your head and makes you work for nothing.

[andreasderjuengere]

I do understand: with limited resources you dream of unlimited profits.

The differences: In capitalism people exploit other people; in socialism/communism it's just the other way round.

''We'' are in trouble: instead of thinking out new and better ways, ''we'' cling to old theories that are based on assumptions that are not longer fully valid.

''you'' - that is 😒

[AngryCarl]

Most people don't understand capitalism, whether they support it or not. You can think of capitalism as the engine of the economy. An engine without steering or brakes will take you right off a cliff.

[TroyDT2]

Most of the people I have spoken with on the topic have been taught that crony corporatism and capitalism are the same thing.

[Esperdragon]

that's because, without government intervention, capitalism will always become crony capitalism. that's why we have to break up big corporations, issue windfall tax, set monopoly regulations, etc.

[NathanDavis]

most people barely read...

other than memes

[CateM]

What we need is a balance between capitalism and socialism. In the US, we are a mixed economy

[BJP21]

The issue with capitalism is not giving a shit about its externalities good or bad and what it can potentially damage.

[Ironic_Method]

People are corrupt and will ruin any system.

[AngryCarl]

Potentially, yes.