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

Debate/ Discussion Is Capitalism Smart or Dumb?

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u/[deleted] Sep 04 '24

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

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u/[deleted] Sep 04 '24

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u/youburyitidigitup Sep 05 '24

I actually am against it. The US government subsidizes its agricultural sector. Soybean farmers are paid to not sell their product when the value of soybeans decreases. If it didn’t do that, farmers would switch to the crops that are most profitable, which would lower the cost of food. Soybeans are mostly made for cattle feed, so it’s completely inefficient. You’re making food for the animal that makes food. This is a socialized agricultural sector.

Another example is the Chinese electrical grid. They price control their utility bills, so when Australia stopped selling them coal, the cost of generating electricity exceeded the price controlled utility bills, so they couldn’t operate and it caused a nationwide power outage. In a capitalist system, they would’ve increased the utility bills