It is impossible to defend democratic rights or any of the social interests of working people without seizing the unearned wealth of the billionaire parasites.
Capital investment strips wealth out of the worker/consumer economy (where it is traded for goods and services, and becomes someone’s paycheck) and transfers it to the securities market (where it is used to convert worker productivity into more capital)
Capital investment is only beneficial to the economy when the working class holds the capital.
Your observation is only true where the working class controls the capital. Your point would be well taken if we all had significant shares providing passive income. Buy not even the wealthiest of the working class controls a share of capital proportionate to their productive output.
The worst injustices injustices in history have been perpetrated by oligarchs of some shape or another. We are in the middle of such an era now.
And how do we know which industries would benefit most from capitalism or socialism? All industries experience diminishing returns of capital investment after a certain point, and that is how Marx made the distinction about which mode of production is “best” for which industry. It isn’t inherent that one industry should be socialist and another capitalist, it is relative to how big the industry is and whether there is room for continued expansion.
One of the easiest ways is to determine which industries are most prone to the failures of the market.
Things that are inherently monopolies like roads, or power lines or things that don’t allow reasonable consumer information/choice like healthcare, etc.
Capital investment strips wealth out of the worker/consumer economy (where it is traded for goods and services, and becomes someone’s paycheck) and transfers it to the securities market (where it is used to convert worker productivity into more capital)
Capital investment is only beneficial to the economy when the working class holds the capital.
Are you 13 years old?
Two kinds of people on the internet are interested in knowing whether someone is 13-years-old. Are you an FBI agent, or the other kind?
13 years old it is!
So, the other kind. Got it.
That’s observablt false. Capitalism has lead to a massive improvement in living conditions for countries that have implemented it
Yes it also has downsides, but pretending it doesn’t do anything good is rediculous.
Your observation is only true where the working class controls the capital. Your point would be well taken if we all had significant shares providing passive income. Buy not even the wealthiest of the working class controls a share of capital proportionate to their productive output.
The worst injustices injustices in history have been perpetrated by oligarchs of some shape or another. We are in the middle of such an era now.
And the word is “ridiculous”.
You sound like Marx just before he recommends transitioning to socialism as the next logical stage of human development.
Marx was a genocidal maniac. You shouldn’t read much into his lunacy.
How was Marx genocidal?
If purity is your jam, Jesus said some radical things about rich people.
Jesus is a myth.
Reading fiction has helped me be a better person, I wish the same for you.
I still think that regulated capitalism works best for certain industries, and socialism works best for others.
It doesn’t have to be an all or nothing choice.
And how do we know which industries would benefit most from capitalism or socialism? All industries experience diminishing returns of capital investment after a certain point, and that is how Marx made the distinction about which mode of production is “best” for which industry. It isn’t inherent that one industry should be socialist and another capitalist, it is relative to how big the industry is and whether there is room for continued expansion.
One of the easiest ways is to determine which industries are most prone to the failures of the market.
Things that are inherently monopolies like roads, or power lines or things that don’t allow reasonable consumer information/choice like healthcare, etc.
That’s dangerously close to Reaganomics friend and we live in a post-capitalism world.