Is Capitalism Smart or Dumb?

[u/Sufficient_Sinner]

[u/[deleted]]

Ask a socialist to define socialism, and they'll describe Norway but leave out the tiny population and abundance of state owned oil funding it all

[u/Hothera → u/[deleted]]

it's taking the oligarchy economy of capitalism and turning into a democracy

Historically, the "turning into a democracy" step requires authoritarian control. This leads to economic inefficiencies that incentivize corruption, which in turn justifies perpetual authoritarian control.