I believe capitalism at its purest form is the most moral and fair economic concept.
Greed. There, I win.
Yes, I understand that greed exists. My point is that you cannot accuse wealthy people of being greedy because they have righteously earned their money. One could argue that inheritance money should be redistributed back into society, and I agree that that is a fair way of approaching that situation, but that would undermine one of the main motivations to profit. Ensuring your children’s happiness motivates many, and to take that away would be taking away a key aspect of our economy. I wouldn’t accuse others of being greedy, because that is an emotional approach, but to match your state of mind, I would accuse those who believe the rich should be taxed of being greedy. They believe that they deserve that money, but for what reason? They didn’t earn it. I would happily give some of my money to disabled people who are unable to work but aside from that, the rest is kleptocracy. Welfare may assist some people and I would be happy myself knowing that I helped someone out, but I don’t believe welfare generally helps. It just keeps people down and unmotivated. I can agree with you that some more wealthy people are selfish, but I do not agree on why. Wealthy democrats are the selfish ones for propagating welfare. Imagine a poor woman finds welfare and tries to beat the system. She has far too many kids on purpose to gain more money. While she believes she is beating the system, the system is really beating her. Her kids grow up in the same downtrodden lifestyle. The government proposes joining the military, and they do because of the money and benefits. All so the wealthy democrats don’t have their children joining the military. Don’t get me wrong, I believe in a strong military, but just not using welfare.
Man, I’m sorry, but you took my bait and ran with it to a weird place. Like, there are problems with what you said, but it wasn’t actually responding to what I was saying.
Greed is also a huge problem in capitalism because firms can be greedy and do inefficient things that fuck over markets purely because of profit motive. Individual firms in the same market, if nobody steps in, will find themselves in an economic Prisoners’ Dilemma. Essentially, because they always want to make all the money, because that’s the point of business in capitalism, they have the option to undercut or overcharge, which has an effect on what all of the other firms in that market and sell and at what price. Market price should be at the Equilibrium Price, but these sorts of actions move it away from equilibrium which results in inefficiency. The extremes of this are Monopoly and Monopolistic Competition which are the result of acting exactly how businesses are designed to work in capitalism, not the result of personal greed. It’s more of that capitalist businesses are by design “greedy” (which is a good thing), and that leads to really dumb stuff.
Yes, I know I went on a bit of a tirade there. It was my attempt to thoroughly explain my beliefs about a capitalist system. I think that we do not agree about the differences between motivation and greed but I understand where you are coming from. I agree that monopolies should be broken up. I support more middle-class small business rather than large-scale corporations.
I support big businesses and their right to peruse their visions, I just tend to agree with the politics of small businesses more. As you have probably inferred by now, my political views are mostly right-wing. The reason large corporations are widely Democrat is because they can withstand the regulations you talked about while small businesses cannot. This weeds out competition. This is why I support small businesses more. I don’t agree with the political motives of large corporations.
The regulations such as income tax and economic intervention. For example, raising the minimum wage. These are things that large corporations can deal with, even though they lose money too. Although, it is worth it for them because it filters out small businesses as their competition. I feel that we are coming close to an agreement, but what exactly do you mean by liberal in a strict sense? Are you talking about social standpoints?
So, can you use a more specific term than ‘pure’ capitalism? Just to use a working definition here, I’ll assume you mean unregulated capitalism or perfectly free markets.
The fact is that we have tried this in many societies and it has always led to bad outcomes. Its kind of the same argument as saying communism has never been successful. Mercantilism, market inefficiencies without government arbitration, insanely wide income gaps that leave most people in a form of wage slavery. Yeah, free markets seem to be way worse than mixed markets.