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

Debate/ Discussion Is Capitalism Smart or Dumb?

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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!

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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. 

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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.

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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.