Capitalism cannot work in a “free market”. I don’t know where you are reading about capitalism from. Have you read Adam Smith, the father of capitalism? Capitalism has always been a failed theory.
Discussion
A global free market has never existed. So, how could it have possibly failed?
So capitalism has never existed? Capitalism relies on property rights, in order to have property rights, you need a functioning governing body with enforcement. Thats it. That’s capitalism. It cannot function under “free markets”.
Capitalism has existed with governments manipulating the money. Capitalism has never existed in an environment with exclusively bitcoin backed transactions. Even gold/silver economies experienced manipulation of the currency.
Your argument would be similar to someone jumping in a tar pit and an observer telling others that humans can’t swim. Humans can’t swim in tar. They can swim in water.
Capitalism doesn’t work well with manipulated money. My thesis is that capitalism with perfect money will produce the most efficient economy that the world has ever seen. This doesn’t mean wealth distribution will be equal. That would be completely unnatural.
Bitcoin will capitalism.
The adoption of Bitcoin will literally be the death of capitalism.
The central banks won't be able to print infinite Bitcoin like they do with regular national currencies.
Although I'm sure they'll use stablecoins to preserve capitalism instead of fully adopting Bitcoin.
Capitalism is government controlled by the capitalist class
what you are calling true capitalism is just communism with money.
Point blank. Capitalism CANNOT exist without a governing body with authority to enforce property rights. There is no way to state it any clearer.
Maybe, the means of decentralizing the enforcement of property rights hasn’t been invented yet. Bitcoin didn’t exist until 16 years ago.
That literally is an oxymoron.
People had the same opinion of money 20 years ago. Now you have bitcoin in your screen name. Just because you can’t imagine it, doesn’t mean it’s not possible. It is possible through engineering.
So let’s recap the conclusions of this conversation, because I think we have reached the end for now.
You have stated that capitalism has never been “tried” in its true form.
You have also agreed that one of capitalism’s top tenets is property rights.
With this conclusion, after a few back n forths, you have agreed that property rights need a governing body for enforcement.
We ended on your implication that capitalism is waiting for some technology that we have no idea about, no idea what it would look like, and it would need to enforce property rights without infringement on “free market” principles in order for humans to reap the “benefits” of capitalism.
This is why I say #capitalism is not a theory, it is a religion. #bitcoin does fix a lot…it will not eliminate religions.
You sound like a horse n’ buggy maxi after Henry Ford explained the internal combustion engine to them.
That makes zero sense. I am all for evolving as a species, why do you think I’m in Bitcoin? You seem to be projecting, because I’m not the one holding on to this notion of capitalism that has been preached since the 1700s yet by your words never existed.
Also, you sound like you have never actually read much about what you think you know because you revert back to ad hominems.
I never personally attacked you. I analyzed a comment you made.
I’m all for the rise of the micro government. Let people choose their own communities with like minded individuals. The best ideas will be adopted by the majority organically—by proof of work.
You are misunderstanding capitalism completely. Here is a genuine economist to explain:
The misunderstanding is that Americans misuse the word capitalism completely.
Capitalism is government by the capitalist class.
Corporate monopolies are inherent.
Capitalism is based on usery, lending money with compound interest, exploiting workers, using the state and the police to enforce laws that benefit the corporate monopolies. That's what capitalism is.
The word “government” is not included in the definition of capitalism.
You don't even know what the word government means...
That's why I had to write government instead of state, because Americans don't understand the difference
No, that’s objectively incorrect. If you want to learn capitalism is explained precisely in the video I linked.
You have been brainwashed your entire life.
It's not your fault.
But you're an adult now, it's time to take responsibility and educate yourself.
The lies they told you at school, the doublespeak your politicians and media use.
It's not normal.
And it makes it extremely difficult for anyone outside of USA to have a good faith discussion or argument.
You use the words different.
To everyone outside USA refers to governments where the capitalist class has power over society.
Like Carl Marx is the one who popularised the term capitalism, to refer to the new economic and political system that grew out of the industrial revolution and replaced monarchy.
You are confusing connotation with definition. The “state” has nothing to do with capitalism. Capitalism is a means of organizing economic activity. That’s it.
You say a bunch of words but can’t just admit you’re wrong and like a man update your model to reflect objective reality. No point in trying to have a conversation with someone like you, muted.
I will listen to it, I promise. However, why would you not just read everything Adam Smith and colleagues alike who organized the capitalist theory?
So Mr. Ammous, starts by describing how humans are social animals, working together to make a better environment and society for everyone. Then he takes the most important tenets of socialism and claims them for capitalism? Have you ever read Adam Smiths work? Or, Joseph schumpeter?
My reoccurring question to everyone to all self proclaimed capitalism supporters, when has capitalism ever been tried? What has capitalism done specifically?