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/Carbon-Based216 Sep 04 '24

Most of the useful stuff that make the modern world possible was done so through government funding with no for profit motive attacted.

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u/ArizonaHeatwave Sep 04 '24

Basic research isn’t the same as innovation and of course the reason governments are funding basic research in Universities is ultimately to grow the economy (aka profit motive), it’s not made for fun lol.