Capitalism can have negative consequences. Capitalism is doing what it's supposed to do.
- Inflation can happen with capitalism.
- Outrageous salaries can happen in capitalism.
- A healthy middle class or no middle class at all can happen in capitalism.
- Recessions can happen in capitalism.
- Homelessness can happen in capitalism.
- Fraud, corruption, price gouging, child labor and so many other things can happen in capitalism.
- Capitalism doesn't need an educated public or a social safety net.
- Capitalism allows people to be down on their luck, and homeless and starving.
- Capitalism allows people to work full time jobs and still not afford housing.
- Capitalism allows people to work full time jobs for 30 years and still not have enough for retirement
- Capitalism allows people to be worked until they're in the ground
Capitalism is emotionless.
Capitalism is ruthless.
Capitalism doesn't abide by rules and tenets that would produce what we would consider a healthy economy. The system of capitalism can throw everything we care about out the window. It is up to us, the people, to use and manage capitalism to achieve the ends we want. We have to put people in power who will create rules for capitalism that will achieve the most good for the most people. Capitalism isn't broken. The rules for managing capitalism and the rule-making system are broken. Capitalism by itself doesn't create a safety net for people who can't afford to live. Capitalism unmanaged will not solve every problem.
The people who scream the loudest about how good capitalism is are the people who have benefited most from it. They don't like rules that change the system they know because it works for them exactly the way it is. They will scream to the mountaintops that markets work and are efficient because people will transact rationally but that assumes that market participants think rationally 100% of the time.
The right loves to tell people that capitalism is good if you would get off your and work. What the right doesn't tell you is that you can work your ass off and put in maximum effort and still end up at the bottom of the totem pole. The right will happily leave you behind. They will happily pay you minimum wage while the cost of living increases, leaving you at the bottom of the totem pole.
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