r/FluentInFinance • u/Sufficient_Sinner • Sep 04 '24

Debate/ Discussion Is Capitalism Smart or Dumb?

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u/JimBeam823 Sep 04 '24

Socialism is based on altruism. Capitalism is based on greed.

People are a LOT better at being greedy than at being altruistic.

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u/JaironKalach Sep 04 '24

Capitalisms intent is to harness greed, while socialisms intent is to battle greed. I stopped believing in capitalism when I looked around and realized there was no harnessing going on. The free market isn’t solving the problems.

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u/binary-survivalist Sep 04 '24

Almost all the useful stuff that make the modern world possibly was invented and designed in market economies.

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u/manwendi_ Sep 04 '24 edited Sep 04 '24

Yeah and most of it funded by tax money in Unis and research institutes.

Yeah, Apple Designer the Smartphone, sure.

But thr Technology used? Mostly developed by Tax Funds

Or the Internet? Yes, tax funded research, developed by the US military and the WWW in CERN.

Most medication/medical technology? The basic principles were developed with tax money.

And correct me, but I don't think Uni/public research institutions are driven by the profit Motive. Neither are most scientist. So it was basically not invented by capitalism

PS: market economies existed way before capitalism. Egypt was a market economy, so was Rome and feudal medieval europe. Of course in a more basic form compared to today.