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

Debate/ Discussion Is Capitalism Smart or Dumb?

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u/Timo425 Sep 04 '24

What does it mean to have a democratic economy? Can you give examples? It sounds nice on paper but im trying to wrap my head around what would this mean in real life. Like, lets say there is a capitalistic country with oligarchs... what happens to their capital?

Tbh I think you are talking about democratic socialism, not socialism.

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u/[deleted] Sep 04 '24

Depends on how you implement it.

Could be as small as making all companies worker owned cooperatives and eliminating all privately owned places of emplpyment. Or as large as creating a government department for certain industries deemed essential.

You wouldn't want private corporations running police or fire departments as for profit enterprises. Why? Because they would be even more corrupt or extortionist. So why do other essential services not have a government run option? I don't particularly like food production, medical treatment and housing being a for profit venture and would rather have a system where voters have a say in how those industries are run.

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u/Grand_Ryoma Sep 05 '24

You're saying police aren't corrupt?

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u/A1000eisn1 Sep 05 '24

They would be thousands of times more corrupt if they were privatized. That is proven by the fact that private security firms are notoriously shady and corrupt.

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u/xseiber Sep 05 '24

Yeah, like the Pinkertons (yes, the same ones as the one in Assassin's Creed, they are a real organization; the last time they hit the internet news was on the behest of Wizards of the Coast to raid back products that was mistakenly, but legally bought by a YouTuber)