undefined | Better HN

0 pointsroenxi7y ago0 comments

Or even if it was a little bit of fairness in how the QE is distributed.

For better or worse, America is the leading example of capitalism in practice. It undermines the whole brand of capitalism when they hand out 4 trillion to the banks then call it a day. Where does the integrity of the system come in to the debate?

That sort of thing was meant to be a hallmark of the communists, not first world nations.

0 comments

3 comments · 1 top-level

close047y ago· 2 in thread

No, unfortunately it's perfectly capitalist. Because the premise of capitalism [1] is (extremely simplified) "help the capital holder because they will have more power to help the others". If an employer does better he will hire more people so more well being.

Another basic capitalist concept is that politics should not influence capital but capital should influence politics. That's because who would know better how to make money and what's best: money makers or politicians? The idea is political interest can turn into unwise economic moves, but capitalist interest will always turn into wise economic moves. Why do you think lobbying isn't considered corruption? Because it's expected that politics needs a hand from business to make the right call.

In practice this turns out how you see it today. The premise was solid, the implementation not so much. In communism state dictates and the business is at its mercy. In capitalism capital dictates and the state is at its mercy. See the QE as quieting up an unruly child by giving him what he wants. What else can you do, get another child? Sink your economy? It's still your own people you hurt in the end.

[1] https://en.wikipedia.org/wiki/The_Wealth_of_Nations

vignesh_m7y ago

Idk why you're being downvoted when you're right. I guess people are incorrectly thinking you support this behaviour instead of simply stating how it is capitalist.

close047y ago

People rarely take the time to understand what you're trying to say these days. They're also very misinformed and take it personally when they think you're attacking their "core values". In this case I think it's because I was highlighting some downsides of the practical implementation of capitalism. Or maybe criticizing anything related to capitalism makes me a communist? Who knows...

Very few people actually understand what capitalism or communism are or what they were supposed to be, beyond what quick consumption TV or internet media tells them. Also very few people accept to change their opinions as the facts change. They'd rather fight it.

Good for them I guess... some things really are bliss.

j / k navigate · click thread line to collapse