Hi all,
I’m seeing a lot of hate for capitalism here, and I’m wondering why that is and what the rationale behind it is. I’m pretty pro-capitalism myself, so I want to see the logic on the other side of the fence.
If this isn’t the right forum for a political/economic discussion-- I’m happy to take this somewhere else.
Cheers!
Capitalism is misnamed. Marx’s analysis that capital has a special theoretical role in the system is wrong. Accepting the pie metaphor means falling for the capitalist framing. Capitalism is a property system, so criticize it in property theoretic terms. The problem with the system becomes clear as the capitalist legally owns 100% of the positive and negative product of the firm and employees own 0% of the product. Whole analysis doesn’t fit in a toot, so link: https://www.ellerman.org/rethinking-common-vs-private-property/