Is Capitalism Flawed?

[RealBitcoin]

Is Capitalism flawed? I used to believe that Capitalism solves issues, but if I really look around me, it actually only creates more issues that were not here before.

> There are many rich people with tons of capital but there are more unemployed people that will not have access to that

> People are living in luxury mansions and driving very expensive car, and then kids are starving in other places

> Profits of companies is going up, but real wages going down, people are living paycheck to paycheck

> Everyone is in debt, nobody has any savings, and most people are working part time jobs

> Nobody has a house, nobody can afford one, yet real estate speculators own thousands of them

> Banks have trillions of $ of money, but they still charge you 50$ / transaction because of their greed

> People have no future prospects, no career opportunity, they just live from paycheck to paycheck trying to pay off the debt and buy some shit GMO food filled with poison, because why sell healthy food to the public when the GMO food is more profitable?


It looks to me like Capitalism is flawed. Nobody has any money and everyone is suffering. I think a universal income must be implemented as fast as possible.

[1713569465]

1713569465

[1713569465]

1713569465

[1713569465]

1713569465

[1713569465]

1713569465

[1713569465]

1713569465

[CrewKitten]

Is Capitalism flawed? I used to believe that Capitalism solves issues, but if I really look around me, it actually only creates more issues that were not here before.

> There are many rich people with tons of capital but there are more unemployed people that will not have access to that

> People are living in luxury mansions and driving very expensive car, and then kids are starving in other places

> Profits of companies is going up, but real wages going down, people are living paycheck to paycheck

> Everyone is in debt, nobody has any savings, and most people are working part time jobs

> Nobody has a house, nobody can afford one, yet real estate speculators own thousands of them

> Banks have trillions of $ of money, but they still charge you 50$ / transaction because of their greed

> People have no future prospects, no career opportunity, they just live from paycheck to paycheck trying to pay off the debt and buy some shit GMO food filled with poison, because why sell healthy food to the public when the GMO food is more profitable?


It looks to me like Capitalism is flawed. Nobody has any money and everyone is suffering. I think a universal income must be implemented as fast as possible.

Capitalism creates great income inequality, but that is not necessarily a bad thing. It is a scientifically proven those who make $75,000+ annually are essentially as content with their lives as multimillionaires. The reasons for this are many, but mostly because the rich work more hours... even though they have more, they spend way more time working and therefore have far less time to actually enjoy the fruits of their labor.

[RealBitcoin]

It is a scientifically proven those who make $75,000+ annually are essentially as content with their lives as multimillionaires.

No shit, where I live you are lucky if you make 5,000$/year

I'd be happy too if I had 75,000$, but guess what I don't. And if I seriously don't find some good business opportunity, then with the wages that my country provides, I'd have to work like 1000 years to earn that kind of money.

And there you have others that make 75000$ /year. Fucking wealth inequality.

[Hydrogen]

I think people confuse capitalism with wealth inequality. Two distinctly different & separate topics.

There have been prosperous eras of capitalism where wealth inequality was extremely low. Past eras of high wealth/wage inequality were marked by class warfare & revolution. To help put things into perspective, during the dark ages working class peasants/serfs enjoyed as many as 189 official holidays/days off from work. In the modern era, the average worker might enjoy 104 holidays/days off from work per year. This invokes instances where benefits reaped from advancing technology & productivity do not trickle down to the poor or middle class.

One issue with the modern era is digitization and proliferation of information on a worldwide scale making it easier for wealth inequality to flourish. Consumers & average people don't often use technology or the internet to plan boycotts, unionization, pooling of resources and other cooperative efforts to further their plans or make life better for themsleves. Large corporations, banks, states however do use the internet and communication to coordinate and push many agendas which benefit themselves.

In virtually all instances where capitalism is blamed for something, its easy to substitute wealth/wage inequality as a better explanation.

[CryptoGeneral]

No, it is not. The rich getting richer and the poor getting poorer. Everything is as it should be.


"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."

Henry Ford

[Pearls Before Swine]

It is a scientifically proven those who make $75,000+ annually are essentially as content with their lives as multimillionaires.

No shit, where I live you are lucky if you make 5,000$/year

I'd be happy too if I had 75,000$, but guess what I don't. And if I seriously don't find some good business opportunity, then with the wages that my country provides, I'd have to work like 1000 years to earn that kind of money.

And there you have others that make 75000$ /year. Fucking wealth inequality.

$5000/year?  Holy crap, you must not live in the states.  $75k isn't even a great salary these
days either here.  Guess that's why signature campaigns are so popular.  It's not chump change.
Of course capitalism is flawed,  but so is socialism and other forms of society.   But I'd much
rather be a capitalist than whatever alternative there is.  At least I have a chance to get rich on
my own and not have to worry about a government like, say, China.   Everything is flawed.

[DaMut]

It is a scientifically proven those who make $75,000+ annually are essentially as content with their lives as multimillionaires.

No shit, where I live you are lucky if you make 5,000$/year

I'd be happy too if I had 75,000$, but guess what I don't. And if I seriously don't find some good business opportunity, then with the wages that my country provides, I'd have to work like 1000 years to earn that kind of money.

And there you have others that make 75000$ /year. Fucking wealth inequality.

$5000/year?  Holy crap, you must not live in the states.  $75k isn't even a great salary these
days either here.  Guess that's why signature campaigns are so popular.  It's not chump change.
Of course capitalism is flawed,  but so is socialism and other forms of society.   But I'd much
rather be a capitalist than whatever alternative there is.  At least I have a chance to get rich on
my own and not have to worry about a government like, say, China.   Everything is flawed.

Yeah and i guess not only him,but me also one of them who's having a money for under than $5000/year.
based on my estimation average salary in my country around $3000/year and we worked for more than 10 hours,
(more likely slavery other than working)
and what OP said was half correct and half incorrect,everything what he said was real and i can see it in my own country.
it's total flawed system for some people,but most of the using their authority to create their own wealth.

the real question is,what we can do to make it better ? nothing,because human is a passionate being,
if he can create 1 ship,he will create another one and another.

[Beerwizzard]

When someone says that capitalism is flawed he usualy means that someone was charged for smth, fired from his job, underpayed etc. In most cases it was a result of different kinds of state intervention or someone lobbied smth through the state. And that is usualy the weak link of the system, not the capitalism.

> People have no future prospects, no career opportunity, they just live from paycheck to paycheck trying to pay off the debt and buy some shit GMO food filled with poison, because why sell healthy food to the public when the GMO food is more profitable?

GMO food with poison lol. That's the best part of the post. Says a lot about OP

[panju1]

Capitalism aids in wealth creation and helps lift people out of poverty.
If you think that the situation is bad in capitalist countries, you should visit countries with socialist / communist leanings. Things are much worse.

[Lateralus]

Fundamentally it is my belief that the state is nothing other than glorified cult behaviour, and that the issues used to justify the redistribution of wealth and others forms of central planning are in fact issues created by prior acts of the state itself. To put it simply, human beings continue to project their own fears into reality. Human beings are psychologically scarred from the brutal process of evolution, and we are in a collective state of stockholm syndrome.

The belief in the supposed "natural" concentration of wealth that is claimed we would see in an economically free society seems to be the equivalent of saying that in a free sexual market the beautiful would get more beautiful and the ugly would get uglier, thus we should demand the state force beautiful women to sleep with ugly men to correct this flaw in the structure of evolutionary reality. The reality is that it has been theorized that everyone is actually getting more beautiful, which is to say that outside of disfigurement from either accident or abusive diet, or those with a fundamental genetic flaw (downs, etc.), the most ugly people of today are significantly more attractive than the most ugly people of centuries prior.

[Tyrantt]

Capitalism aids in wealth creation and helps lift people out of poverty.
If you think that the situation is bad in capitalist countries, you should visit countries with socialist / communist leanings. Things are much worse.

^^^ Because people in US have it far more worse then in North Korea or Venezuela...


Every economic system is flawed but capitalism creates competition and with competition you have improved products which can lead to inovations, more jobs for various new positions,etc... While something like socialism stagnates because there is no need for improvement, everyone has everything and everyone should be happy with it.

[Ultegra134]

Capitalism is flawed, but that's happens in any other system. Although, it's proven that it's the most equal system, just have a look at countries with Communism, such as China, the middle class is almost non existent in many areas and the majority are poor, living with only a couple of dollars per day.

[freeyourmind]

Is Capitalism flawed? I used to believe that Capitalism solves issues, but if I really look around me, it actually only creates more issues that were not here before.

> There are many rich people with tons of capital but there are more unemployed people that will not have access to that

> People are living in luxury mansions and driving very expensive car, and then kids are starving in other places

> Profits of companies is going up, but real wages going down, people are living paycheck to paycheck

> Everyone is in debt, nobody has any savings, and most people are working part time jobs

> Nobody has a house, nobody can afford one, yet real estate speculators own thousands of them

> Banks have trillions of $ of money, but they still charge you 50$ / transaction because of their greed

> People have no future prospects, no career opportunity, they just live from paycheck to paycheck trying to pay off the debt and buy some shit GMO food filled with poison, because why sell healthy food to the public when the GMO food is more profitable?


It looks to me like Capitalism is flawed. Nobody has any money and everyone is suffering. I think a universal income must be implemented as fast as possible.

Good question.  Capitalism is just theoretical.  I don't believe there is any place that has pure capitalism.  You have something called capitalism, but it's mixed with socialism and a corrupt government that favours special interests at the cost of the general public.

Anytime there is sociopathic leadership, there will be the introduction of luxury while others starve, without giving a shit.

The current monetary system, central banking and the way governments operate are largely responsible for the polarity you've outlined.  You print money out of nothing and you go to jail.  The federal reserve does the same and not only is it okay, but you can become a debt slave to someone that has done literally nothing for you.  But you can't be that guy 

[syaripudin]

Perhaps for some capitalist people will become a power for a country. Capitalist system is almost similar to communist. I think so. This in my opinion will only benefit some parties only. Especially for the government. This will trigger its citizens to work harder. Just imagine if this will change for the better. I do not think so. This system will only benefit some parties only. But on the other hand can harm others

[Trela]

Capitalism is flawed, but that's happens in any other system. Although, it's proven that it's the most equal system, just have a look at countries with Communism, such as China, the middle class is almost non existent in many areas and the majority are poor, living with only a couple of dollars per day.

I agree with you, I have a friend live in Vietnam. This is country have communism as China, but the economic in this country is worse than China very more. He said every day he just want earning 2.5 dollar per day can help he stay alive, but he don't know that amount with Bitcoin user as pay fees lol!

[Kakmakr]

I learned something new the other day. The earliest known version of Monopoly, known as The Landlord's Game, was designed by an American, Elizabeth Magie, and first patented in 1904 but existed as
early as 1902. Magie, a follower of Henry George, originally intended The Landlord's Game to illustrate the economic consequences of Ricardo's Law of Economic rent and the Georgist concepts of economic privilege and land value taxation.

She wanted to demonstrate the flaws in a Capitalist economy, where only a few people succeed and become filthy rich and millions suffer in poverty. We are seeing this now, where we have a few filthy rich people and a much smaller percentage of people in the middle class <declining daily> and Billions of people living in poverty. The middle class has to carry the biggest portion of the tax burden to help the poor and they are slowly moving from middle class to poverty.

This will also spill over to Bitcoin later, because the filthy rich will buy all the coins to store their wealth and the rest will play with the scraps for it to retain it's value. < Bitcoin Whales >

[hatshepsut93]

OP, all your points from first post can be reduced to one single point - income inequality. But is it really a bad thing? People are not equal in their abilities, and pure capitalism rewards people for their usefulness for others. It's impossible for everyone to be rich, drive Lamborghini and own a yacht, there's not enough resources for that. But under capitalism things actually improve, poverty in the world decreases, and quality of life of poor people now is much better than 100 years ago. And there's no alternative to capitalism, all other centralized systems fail to create economic growth - check out how people were starving to death in communist countries, or how socialist countries have constant shortages of the most basic goods.

[Yuuto]

But communism will only cause more trouble than capitalism, imo. At least in capitalism you're able to generate a decent amount of wealth for yourself if you're hardworking and have creative ideas(obviously if you're just son of a rich ass businessman that will give you a definitive edge too).

Communism is only going to be exploited by those who run the regime as we have seen over and over in history. And in the end it just ends up being a defunct model, and a reform to capitalism occurs or the system just implodes.

Of course capitalism is flawed, look at social inequality. But there isn't really one simple answer that will solve everything unlike what propaganda tells you.

[Beerwizzard]

> People are living in luxury mansions and driving very expensive car, and then kids are starving in other places

What country are you talking about? Due to lots of social programmes, different foundations or just voulanteers. If you talk about countries that drown in powerty they never had anything close to capitalism so don't blame it.

[pinkflower]

Any system is as flawed as the people behind it. Think about this, a dictatorship can be the perfect system for any country as long as the leader and his people are benevolent.