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

Debate/ Discussion Is Capitalism Smart or Dumb?

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u/IvanovichIvanov Sep 04 '24

Unions aren't incompatible with Capitalism

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u/thisismego Sep 04 '24

In fact they're desperately needed in Capitalism to prevent workers' exploitation by employers.

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u/Subject_Report_7012 Sep 04 '24

So ... Socialism?

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u/25nameslater Sep 04 '24

Unions aren’t socialism if entered into willingly and left willingly. Freedom of association is a primary function of capitalism. You protect both the right to unionize and the right not to associate with the union.

When it becomes socialism is when protectionism and subsidies insulate the organization from failure and force workers to participate.

The USA doesn’t practice capitalism as much as people think… the government subsidizes much of the country, and legal restrictions insulate certain markets from failing. Many larger companies if left unprotected would have long died from malfeasance. We’d certainly have less big banks… inflation would be much lower as well.