Subnostr

I honestly think a lot of people, particularly self-labelled socialists, have a misguided view of capitalism because they've only ever participated in a fiat economy. This has been on my mind for a while.

Numbers don't lie: for most of history, capitalism lifted up the poor the most. In times of prosperity when everyone was employed and wages trended up, the once poor became the middle class, and the middle class became the nouveau riche.

But all that wealth was in gold, not paper.

It's only since the dominance of fiat money that this has changed.

https://wtfhappenedin1971.com

wil 2y ago

While all that’s true. I think it’s more to do with how little folks understand the interplay between governance and business in the world today. The monopoly on violence that government has is constantly leveraged via regulation. This is the number one way to monopolize an industry.

Most folks don’t see this dynamic happening and even if some do they think this is capitalism somehow. Words being misdefined might be even more of a problem in the understanding of reality

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Pablo Xannybar 2y ago

Absolutely - the simple acceptance of the state being run on bribes from lobbies is another huge part of it for sure.

And anyone who thinks abolishing capitalism would stop humans being corrupt is simply delusional. The USSR was extremely corrupt. If you knew the right people you could live like a king while everyone else starved.