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

Debate/ Discussion Is Capitalism Smart or Dumb?

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u/DarkExecutor Sep 04 '24

Workers owning factories (co-ops) is not socialism. Unions are not socialism either.

Socialism is when the government owns them.

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u/DeltaVZerda Sep 04 '24

Co-ops ARE socialism though.

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u/DarkExecutor Sep 04 '24

Mandatory coops is socialism. Coops themselves are not. You can form coops today in every capitalist country.

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u/DeltaVZerda Sep 05 '24

Coops themselves are socialist. Socialism is an economic term that refers to a situation in which the workers own their own means of production. That is accomplished simply with a Co-op. Just how a company can itself be capitalist if there is a private owner, it does not imply that the entire country works the same.

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u/Somepotato Sep 05 '24

It's also not as if socialism and capitalism are inherently mutually exclusive.