Capitalism Has Its Faults…

Published at 17:19 on 15 April 2016

(This is the second of two posts which I had written down intending to repost here long ago, and only just recently rediscovered.)

… huge ones, in fact. But it is still the economic system of classic liberalism, based on the pro-freedom insight that letting people do as they choose need not create chaos and dystopia and can in fact create peace and self-organizing order.

Its biggest failure is in its indvidual-rewards mechanism. In attempting to reward valuable and useful effort, it ends up handing out privileges and creating a ruling class that subjugates others. The problem is not the rewarding of individual effort, but the way it is done. Rewards that create authoritarianism are anti-freedom and should be opposed.

But back to my first paragraph. That pro-freedom nature makes opposing capitalism tricky. One can’t simply get into the mindset that one is an anti-capitalist and then just oppose whatever the capitalist way of doing things is, all the time. If one does, one will often end up opposing freedom.

It’s part of the reason (only part, it was a feudalistic society with no tradition of nor much respect for freedom) the Soviet experiment went so badly for freedom. It’s also a reason to eschew the term “anti-capitalist,” which leads to just the wrong mindset when it comes to opposing and replacing capitalism.

I’ve never liked “anti-capitalist” much because it’s negative. I’d rather use labels based on what I am for, not what I am against. Now I have another reason to dislike the term.

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