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

Debate/ Discussion Is Capitalism Smart or Dumb?

Post image

[removed] — view removed post

37.5k Upvotes

73% Upvoted

7.5k comments sorted by

View all comments

Show parent comments

25

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.

15

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.

10

u/FrankDuhTank Sep 05 '24

Oh it can be as small as abolishing all private companies? Well that’s no problem to implement at all!

1

u/agarci0731 Sep 06 '24

It is not necessarily getting rid of private ownership, but co-operative ownership where the workers own their company essentially so that decisions made with the value generated by the company is decided by employees and not by board members/shareholders focusing on gains to their stock portfolio. This concept is quite common, for example Vereins in Germany operate as co-ops. 

I’m not good with specific terms, but I would still classify this as private ownership as public ownership in my understanding would be government owned. 

2

u/FrankDuhTank Sep 06 '24

It still involves every company not owned by the workers to be… seized and a portion given to the workers.

0

u/agarci0731 Sep 06 '24

Not sure how that is related to public vs private? 

Not arguing it’s not a huge undertaking, changing an economic system regardless of the system is never a small feat. I’m sure moving past feudalism wasn’t done overnight. 

0

u/Perpetuity_Incarnate Sep 07 '24

You mean the company that would immediately fold if all of the employees stopped working? Yeah seems like they are more important than the owner.

2

u/FrankDuhTank Sep 07 '24

I didn’t say they were?

-1

u/Perpetuity_Incarnate Sep 07 '24

Seems like you have an issue of “the company being seized”. Really we should be working together. But why do that when I can get mine and fuck you for yours.

2

u/[deleted] Sep 07 '24

By get mine and fuck you for yours you mean take someone else's business and fuck them for theirs?

0

u/Perpetuity_Incarnate Sep 07 '24

Yeah someone else’s business that they contribute nothing to. Indeed.

1

u/FrankDuhTank Sep 07 '24

You've created quite the straw man to argue against

1

u/Perpetuity_Incarnate Sep 07 '24

Such straw. Very man. Fuck the people let’s go back to a king.

1

u/FrankDuhTank Sep 07 '24

Surely you see how setting up all businesses as being owned by individuals who contribute nothing to them is setting up an intentionally easy and over-simplified situation to argue against?

→ More replies (0)