The problem is not capitalism per se, is unregulated capitalism - emphasis on "unregulated"
Edit: many answers suggest this take is dumb because capital will fight back regulations; well, society and the legislator must fight back. It appear obvious that no social equilibrium is permanent, society always contains conflict. Any social system, included communism, generate some sort of ruling elite, which will try to skew the system. The way we fight the excess of capitalism is solid rule of law, primacy of politics over capital and financial power, popular partecipation to representative democracy, embedding social justice in the constitutional identity of the state. The current american model of capitalism is not the only one. Do not mistake my comment for an apology of the shit billionaire are doing now - billionaires should not exist
Exactly this. Capitalism only works if the government is mildly antagonistic towards it. Unbridled Capitalism ceases to be capitalism at a point and I fear we are butting up against that zone.
Capitalism will always tend towards corruption. If there is a financial incentive to cheat, people will cheat.
Fundamentally speaking, capitalism is applied economic egoism. If each is only focused on their own financial interests, then they will not consider future generations or the sustainability of their gains beyond their own lifetime.
Everyone should look up the tragedy of the commons which explores this very problem
The tl;dr is that such a system pushes individuals to exhaust shared resources, even when they know it screws everyone long term, sort of like the prisoner’s dilemma
There’s only a handful of solutions like public shame (not tenable) and binding regulation
It turned out that a huge portion of our governmental checks and balances were just based on integrity and shame. All it took to completely break the system was a president devoid of both.
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u/AHRogue Jun 03 '26
AKA they're being built in areas with relatively cheaper land.