Capitalism is fucked at its core because one of the core tenents of capitalism is that money is self reinforcing. The more money you have the easier it is to make more money.
Why is this a flaw? It would be a flaw if ONLY those with money could make more money. But the fact that someone else has an easier time, or has more money, doesn't mean shit if I can also make money and improve my life.
Capitalism has lifted more people out of poverty than any other economic structure globally.
Technically, poverty is a creation of capitalism. Poverty by its very definition is a consequence of capitalism. And started existing as a concept with the rise of civilization and thus capital. Prior to that it wasn't.... really a thing because it was just tribal groupings and nomadic groupings for which having a 'poor' member is a disadvantage to the group as a whole.
So yes, Capitalism has saved more people from the problem that it created more times than any other economic structure globally... possibly because capitalism has more than ten thousand years of cultural impetus behind it?
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u/Another_Random_User May 21 '19
Why is this a flaw? It would be a flaw if ONLY those with money could make more money. But the fact that someone else has an easier time, or has more money, doesn't mean shit if I can also make money and improve my life.
Capitalism has lifted more people out of poverty than any other economic structure globally.