09-18-2020, 07:21 PM
(09-18-2020, 02:01 PM)fredtoast Wrote: We have to have a capitalist economy because competition drives progress and efficiency. But unregulated capitalism is pure evil because if values profits over human lives and the environment. This is not a theory. It has been proven by history.
Does it, though? If the competition of capitalism drives progress then why does it create wealth and income inequality. The most common argument for capitalism is that the competition drives innovation (I think that might have been the word you were thinking of), but the competition in the private sector isn't necessary for innovation. We've seen many innovative discoveries come from the government or be government funded. Socialism can also be very innovative and efficient.
The point I'm making here is not that we should be a socialist economy, but rather we need to get out of the mindset, which is faulty, that capitalism is better than socialism, so long as it is regulated. We need to recognize that both systems are fine, but it is the human element that corrupts them and it is for that reason that a regulated mixed economy is best.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
