Why is unregulated Capitalism, such as we have in the US, so vulnerable to corruption and greed?

[msc545]

WHY DO WE REFUSE TO REGULATE CAPITALISM?

Unregulated capitalism is highly vulnerable to corruption and greed because it removes rules that limit harmful profit-seeking. Without regulation, companies can exploit workers, pollute, deceive consumers, and form monopolies. There's little accountability, allowing fraud, bribery, and unethical behavior to thrive. Wealth becomes power, weakening democracy and encouraging cronyism.

In short, without oversight, the system rewards greed and punishes ethics.

[Chazmatazz269]

The main problem is that we bury the greed intrinsic to capitalism by calling it “ambition” and “success”. Under literally any other context, the things that people do to others in the name of gaining wealth and power are all but universally recognized as antisocial at best. They’re really characteristics of narcissism and sociopathy.

https://www.enotalone.com/article/mental-health/narcissism/why-narcissists-and-sociopaths-outperform-you-r24493/

However, we are all too happy to displace morals and values for great wealth, power and even notoriety. The notoriety is the bait in the trap for the proletariat. We will actually allow ourselves to be abused and oppressed under the misdirected belief that we will one day be the abuser and oppressor. So we dare not change the rules or insist that existing rules be enforced. Otherwise we might prevent our own success. It’s the trickiest part of the game. Making people vote against their own best interests year in and year out with a fantasy about being on top themselves.
Most people, especially everyone who insists that capitalism is the best we can do, really are the idiot crabs who could escape a wide open barrel quite easily if they only stopped pulling each other down.
Instead, they end up in the pot, boiling to death. All the while blaming the other crabs, but not the fishermen or the cooks.
It would be funny if it wasn’t true.

[msc545]

@chazmatazz269 Excellent analysis - thanks!

[MisterWack]

I believe in Capitalism , that you are allowed to bask in your success and acquire vast sums of wealth.
The only thing I ask is, a well regulated Capitalist System in which America has always promoted to some degree.

Anti Trust Laws is an example.

I don’t like corporate entities that shrink their margins to run out local business then buy up space then raise their prices being the only one that people can go to.
Competition is a good in the Capitalist world not a bad thing.

When consumers have options, competition can fuel innovation and price decreases while lack thereof can significantly affect the quality of the product with a hefty price tag which is unfair for consumers who have no other option.

This is an example when Capitalism is unregulated and not quick to step in.

I want to be clear, fire safety standards on buildings have been around only because management of those buildings allowed for deaths and casualties to accumulate during a tragic event.
No push open doors , rickety broken fire escapes , elevators and no stairs , also a narrow path to escape all contributed to deaths of innocent workers. The workers striked , demanded better treatment , and outrage allowed for passage of legislation.
Don’t let Capitalists fool you that this is ‘radical’, it is empathy and compassion for the life & well being of our fellow man.

Capitalism is only good when it is well regulated.

[msc545]

The US does not adequately regulate Capitalism, and the result is what we have now.

[MisterWack]

@msc545 Agreed.

[loveslongnails]

There IS NO SUCH THING as "well regulated Capitalism". Who are you trying to kid?

[msc545]

Capitalism is so vulnerable to corruption that I tend to agree that there is literally no actual example of unregulated capitalism in the world because every instance of it has been corrupted so quickly and so completely that regulation could not exist.

[MisterWack]

@loveslongnails It is impossible to reject a system we have built over 250 years.
Capitalism isn’t well regulated because Lobbyists , Market Solutions , Greed , and Billionaires are benefitted under a Capitalist System. It can’t be well regulated when it is being driven.
They believe we are powerless to stop them. We need ‘We The People’ to take charge. This is a country where the people rule, though every day that goes by it seems our freedom disappears.
No ifs or buts about it.

[loveslongnails]

" It is impossible to reject a system we have built over 250 years."
Who is "we"? "We the People" were a bunch of wealthy white guys who wrote the Constitution, the Declaration of Independence, The Federalist Papers, etc. This country was founded by wealthy white guys and at no point in its history was there ever a moment where "we the people" were anything more than "you, the proletariat".

The people don't rule this country, and handful of aristocrats and corporations rule this country. The difference now is they don't give a shit that your illusion of freedom is being stripped away and the authoritarianism and fascism is going to be right in your face, daring you to do something about it. The checks and balances are gone. Evil reigns with impunity,

You want "we the people" to take charge, let's hear your plan.

[MisterWack]

@loveslongnails A time machine. Yeah there really isn’t a plan other than that.
I just advocate for change with hopes people would grab onto it and go, “those are my rights and this is my country, we deserve better than this”. Not much of a plan.
I do the “well regulated capitalist system” with hopes Extremist Right Wing will hear me out because it sounds less radical (even though its not) when you condense it in a digestible package…

[msc545]

@misterwackIt is so inherently defective that is can *NEVER* be well-regulated.

[MisterWack]

@msc545 Yeah it can never be well regulated unless we had a time machine or we dismantle the two party binds and the lobbyists / dark money influence that keeps us in a choke hold.

[msc545]

It needs to be dismantled regardless.

[MisterWack]

@msc545 Yeah

[loveslongnails]

When longing for "the good old days", I like to remind folks that it wasn't all that good for everyone. Yes, there was a more visible and attainable middle class, but it was still a segregated one, if not by color or race alone, then by economic status. The perception that most families could live "Leave It To Beaver" on a one provider income is deeply false. Wealthy American families still held all the power and owned all the major corporations providing food, energy and education (read: indoctrination). The biggest difference I can see is that more crumbs were left on the table, and more things "fell off the truck" for people to scramble for. The vast majority of wealth was still owned by the top 15% of family fortunes. That number has been reduced today and the gap has widened, but that's the inevitable result of ongoing capitalism.

[Caroline91]

You kinda answered your own question…the people in power are greedy. I would add that money and control over it also represents power. So they are greedy and power hungry. Perhaps we, as citizens, need to take more responsibility for who we elect. And I think we are really missing the boat at this moment by thinking we have to wait til midterms to make changes. I think a whole lot of members of Congress need to be recalled…sooner rather than later. That’s power, too.

[OneViewpoint]

Capitalism is fundamentally based on greed and everyone making decisions based solely on economic self interest. Not morality or ethics or society at large. The bullshit in Capitalism is that the "free" market will be self regulating and always make the "right" decision in a macro view.

Here's the way it actually works. A greedy few have some luck or behave unethically / immorally to accumulate abnormal wealth. Then they proceed to use that wealth to corrupt the market by influencing and corrupting government to tilt the playing field in their favor in order to gain more wealth and power. So there is no "free" market. And a wealthy few end up with all the money and all the power. This happens every single time with unregulated Capitalism.

Capitalism only works for society at large if there is a strong government monitoring, regulating, punishing abuses, and acting to prevent inequality. Once the corrupt 1% gain control of government you get an Oligarchy. Which is where we were with the Robber Barons in the 1890's - 1920's and where we are again now.

Capitalism is every bit as flawed as Communism when left unregulated. It's not a matter of if it will fail but when. Human greed and flawed personalities are a reality that need to be constantly held in check.

[msc545]

Well said, thank you

[loveslongnails]

Because when you DO that, you get slammed by those saying " It's not a free market anymore". There's only two ways to sustain capitalism:
1) Keep the carrot close enough within reach that the proletariats believe it's attainable, while teaching them it's "their own fault" if they don't get, because they didn't work hard enough". This relies on heavy propaganda and brainwashing, such as we see in the USA.
2) Keep it in place by force, subtle or overt, and deny that it's an oligarchy. Make the general population desperate by controlling all resources, all the while blaming the influences of "socialism, Communism and Marxism on the decline. Convince the masses "there wasn't ENOUGH capitalism or free market economics".

[BonzoInBitburg]

Trump is essentially shifting the US away from capitalism through tariffs and his sovereign wealth fund which marks a sharp shift left towards socialism. Tariffs manipulate the economy from a centralized government through protectionism and additional taxation and Trump has repeatedly threatened US companies who try to avoid these tariffs with additional tariffs which is hardly a capitalist concept. The recent trade deals with Japan and the EU makes the US government business partners through the US's sovereign wealth fund, with foreign companies that build factories in the US with the US taking a share of the profits. This is much more of a socialist concept than a capitalist one.

[Twalli]

We don't have true capitalism. Trump is not a successful businessman. His dad was. If we had true capitalism, Trump wouldn't be rich.

[Caroline91]

@Twalli He probably would because the one real talent he has is how to scam people into giving him money, both individuals and banks/businesses. But, up until he turned the office of the presidency into a personal business venture, he was never as wealthy as he claimed to be. He’s a pro at The Art of the Con, and how to use other people’s money/resources while putting his brand on it and saying it’s his.

[Effably]

Technically true capitalism requires removing concepts like Family and even Friends. As well as just restarting society every generation. Since that is not plausible or desirable eventually you end up with people in power making decisions that benefit them and remove competition.

[Twalli]

@Effably I didn't say true capitalism would work, but we have cone to the point where investments are more valuable than hard work.

[msc545]

Good point.

[Effably]

Oh and I am certainly not disagreeing with anything you said. I just felt like adding on that true capitalism is probably not a goal.
The fact that interest is generally the best way to earn money, invesments, property, all are interest paid on capital owned, is absolutely a problem and the main cause I included a generational reset for capitalism to actually work. Of course removing ability to earn without actual work would fix it too. Although it will degenerate into a discussion of what constitutes that.

[Twalli]

@Effably because we could easily argue that day traders work. As well as people in the NYSE and that's solely related to investments.

[Effably]

Mhm. And the natural counter is that something needs to be produced. But some investments do lead to genuine production. Most don't, some do. Never to the full extent. You see why reset was my go-to here. Much simpler if the point is just to highlight how dysfunctional a system we have.

[Twalli]

@Effably let's look at porn. Technically nothing of value is produced. It still is the largest grossing industry in the world. And that was true before OF. As long as you aren't a male pornstar, you can make good $ there. I wouldn't ever do it again, but if you only care about $, go for it. I mostly try to forget it, which is why I don't even put it on my resume.

[Keyboardkat]

It is NOT unregulated. That's why we have antitrust laws, labor laws, we have the SEC, etc.

[msc545]

Antitrust laws are not enforced in the US. Labor laws are barely enforced and are usually tilted in favor of a large corporations. The SEC routinely overlooks insider trading and all kinds of other violations. It doesn't matter if you have a laws. If you know adequately, enforce them in the US certainly does not do that. And has not for years ever since. Reagan.

[msc545]

Unenforced laws are useless and deceptive.

[beefcakebradybatson]

The tycoons contribute to BOTH parties, so their greed goes unchecked in both DUMBOCRAT and REPIGLIKSCAM administrations.

[Anonymous]

Money and power corrupt, unregulated Capitalism is the worst problem we have in this country.

[Anonymous]

Because it's in most human's nature to be greedy, capitalism always supports that idea.

[exitseven]

it is dependent on personal responsibility. Caveat Emptor

[Chazmatazz269]

Which is completely nonsense. Nobody makes up rules to be obeyed just because they like obeying rules. I defy you to point to any group of people in all of human history that observed any form of social order without the threat of external negative consequences. It is absolutely not in the nature of any living thing ever studied. There MUST be rules, and they MUST be enforced fairly and equally on EVERYONE.

[exitseven]

@Chazmatazz269 The rule is if you charge too much nobody will buy your product.. It is not perfect but it has created more wealth than any other system.

[msc545]

@exiteven Yes, created a LOT of wealth in the hands of 1% of the population. Great system.

[exitseven]

ask Cuban refugees hoe well they did under communism.

[msc545]

are you really in favor of corruption?

[exitseven]

Cuba was a prosperous country until Castro took over

[msc545]

Yes it was. It was prosperous for Batista and for about a hundred other people and the rest of the country starved. The people didn't stage a revolution because they were happy.

[loveslongnails]

Communism is NOT the opposite of Capitalism. LOL In fact, Capitalism shares a lot of similarities with Communism, but to see that, you'd need to be able to think critically. As a trumper, that's not really possible.

I know you think your answer was a flex, but you should ask Cuban refugees how safe they're feeling now, even as citizens, under your vile hero's regime?

[Sevenpointfive]

is this a real question?

[msc545]

Yes, it is. Do you have an answer?

[Sevenpointfive]

because at some point you can buy corruption and greed without regulation.

[msc545]

Corruption and greed buy politicians and Judges.

[Sevenpointfive]

i feel like you just french kissed my previous statement

[msc545]

What previous statement?

[Sevenpointfive]

[msc545]

I don't understand your point.

[Sevenpointfive]

you came to the correct answer.

Corruption and greed buy politicians and Judges.

[msc545]

yes.

[DrPepper12]

Vulnerable? It's DESIGNED that way!

[dustybiker2]

It is the land of opportunity...

[msc545]

Yes, for most people the opportunity to become very poor and do a lot of work for not very much money. The system is rigged to the extent that very few people enjoy any wealth at all.

[dustybiker2]

This is true. There will always be people in position to screw people over.

[msc545]

The system itself is designed to extract as much money from as many people as possible and to direct that money to a very few people.

[dustybiker2]

They built it that way. Same with the medical profession and pharmaceutical business. But then they are run by the same people intermingling.