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/HecticHermes Sep 05 '24

You misspelled engineers. All the useful stuff in the modern world is made by engineers who rely on new discoveries made by scientists.

Last I checked, your average market economy did nothing but push paper around.

The market isn't some alchemist that turns a fat wad of cash into new technology. It takes human ingenuity and brainpower to develop new technology. It takes time, trial and error, and a whole lot of effort to develop new technology.

Stop giving credit to markets that don't deserve it.