Post 9tmKuaT0ARFHiRF2Mi by jazzyeagle@mastodon.social
(DIR) More posts by jazzyeagle@mastodon.social
(DIR) Post #9tkZJ2ey0ZT79ATPaC by klaatu@mastodon.xyz
2020-04-06T00:30:20Z
0 likes, 1 repeats
This is not a sarcastic question: Can a pro-capitalist explain to me how a free market would be able to combat Covid19 better than a socialized/regulated one? I'd like to hear the counter-point to my gut instincts.#capitalism #usa #america
(DIR) Post #9tkbYMEjhh2E7EdQx6 by amolith@social.nixnet.services
2020-04-06T00:55:30Z
0 likes, 0 repeats
@klaatu
(DIR) Post #9tkc8Ikg8aQNjUiP44 by amolith@social.nixnet.services
2020-04-06T01:02:01Z
0 likes, 0 repeats
@klaatu Well I was about to send an opinion from a friend of mine but he just said he's too stoned to give a coherent answer 😅 The other two guys in the group aren't fully pro-capitalism and I avoid political discussions lol
(DIR) Post #9tkcJmR86vqSz32qRc by klaatu@mastodon.xyz
2020-04-06T01:04:07Z
0 likes, 0 repeats
@amolith Thanks for trying to provide better exposure. I'm only curious, really. (I tend to avoid political discussions as well, but I'm willing to read a counter-point.)
(DIR) Post #9tmHkgk3gLwsQ3o9fE by jazzyeagle@mastodon.social
2020-04-06T03:06:16Z
0 likes, 0 repeats
@klaatu My best response is more competition, which sounds crazy until you think about it: In a time of crisis, many of our companies that normally compete actually work collaboratively. There are quite a few different healthcare organizations across the US performing different clinical trials relates to COVID-19, and they're all communicating with the Center for Disease Control, the WHO and each other on what seems to be working and what doesn't.
(DIR) Post #9tmKFe9PZ7XXGiYYT2 by klaatu@mastodon.xyz
2020-04-06T20:51:05Z
0 likes, 0 repeats
@jazzyeagle So you mean diversity ? ie, because capitalism ostensibly encourages competition, this breeds more companies that exist (greater diversity). So when they collaborate, you have more input streams than in a non-diverse system?
(DIR) Post #9tmKuaT0ARFHiRF2Mi by jazzyeagle@mastodon.social
2020-04-06T20:58:29Z
0 likes, 0 repeats
@klaatu That's my best rational guess. I don't know how accurate it is, but it's the best I got.
(DIR) Post #9tmNvOGNKEy21EPUfY by klaatu@mastodon.xyz
2020-04-06T21:32:15Z
0 likes, 0 repeats
@jazzyeagle Hey, food for thought anyway. Thanks for the exercise.
(DIR) Post #9tmT2za3ThkzYS3kdk by amolith@social.nixnet.services
2020-04-06T22:29:38Z
1 likes, 0 repeats
@klaatu I asked him again and this was his response 😂 I’m just going to give a bullshit answer since I’m baked. With big pro free market, we can fight covid by selling marijuana to people so they can stay indoors and get baked. There’s a better explanation but I’m not very smart right now.I generally stay out of politics not because they can get heated but because I simply don't know enough to make an educated decision and have a good intellectual debate about it.
(DIR) Post #9tmTDMRnJaCzN28jXE by klaatu@mastodon.xyz
2020-04-06T22:31:33Z
0 likes, 0 repeats
@amolith Well I can't argue with the legalization angle, but I don't equate that one issue with a totally free market. Thanks for the [proxy] response.
(DIR) Post #9tmfSHwXXfs5C9PBYG by jankoekepan@mastodon.xyz
2020-04-07T00:48:40Z
0 likes, 0 repeats
@klaatu Long story. It depends upon what you mean by capitalism, for example - the core element, or all the trappings that we've tacked on and still call capitalism for lack of better terminology. (Yes, I studied economics, and yes I specifically studied political economics under non-capitalist professors, so I'm probably well-qualified to answer your question.)
(DIR) Post #9tmj0LylLKfvQ7NcHI by klaatu@mastodon.xyz
2020-04-07T01:28:28Z
0 likes, 0 repeats
@jankoekepan Well I'm assuming there's general agreement that what-we-have-now <a href="https://www.bloomberg.com/news/articles/2020-04-03/trump-invokes-act-to-prevent-equipment-from-being-hoarded">isn't dealing with Covid19 well</a>, so I think I mean "the core element".Note that I am *not* educated [full-stop, arguably] in economics.
(DIR) Post #9tmksbFyrBimOXrdCK by jankoekepan@mastodon.xyz
2020-04-07T01:49:27Z
0 likes, 0 repeats
@klaatu The core element of capitalism comes down to private control of resources, with social regulation of dispute resolution and contracts. Please note that yes, this includes an explicit role for government or similar structure, and it does not imply the existence, or even the concept of money.Implicit in this is various forms of regulation defending the interests of various owners against each other (externalities like pollution, for example).
(DIR) Post #9tmmPsWXmLo3SU2lc0 by jankoekepan@mastodon.xyz
2020-04-07T02:02:39Z
0 likes, 0 repeats
@klaatu Taking this as a basis, the arguments for capitalism come from a variety of fronts. A prior poster mentioned diversity - because there is no controlling authority demanding a particular direction, diversity can work to offer multiple solutions. That's just one reason. Another reason is that capitalism promotes the accumulation of value by its built-in incentives. This means that you tend to have better reserves to face such a problem.
(DIR) Post #9tmmPt7lXxa3JvSUd6 by klaatu@mastodon.xyz
2020-04-07T02:06:40Z
0 likes, 0 repeats
@jankoekepan Interesting, thanks for that perspective.
(DIR) Post #9tmmtPOMegDBnLIaZM by jankoekepan@mastodon.xyz
2020-04-07T02:12:02Z
1 likes, 0 repeats
@klaatu You're welcome. There's more. Capitalism's individual flexibility means that innovations to solve problems require less in the way of centralised gatekeeper approval (not zero, but less). This tends to speed adaptation for changed realities. Also, the chief criticism leveled at capitalism in this context (unequal treatment of elites) historically applies as much if not more to other systems.
(DIR) Post #9tmnBOCtncYPKfVg00 by jankoekepan@mastodon.xyz
2020-04-07T02:13:20Z
1 likes, 0 repeats
@klaatu I could go on, but those are some of the key factors.The chief problems of capitalism in the long run have solutions that are not incompatible with the benefits listed so far.
(DIR) Post #9tmnBOt5GmIXRVFMki by klaatu@mastodon.xyz
2020-04-07T02:15:16Z
1 likes, 0 repeats
@jankoekepan Well I've learned at least one thing. I always thought capitalism necessitated money as the unit of exchange. Interesting to hear that technically this is not the case. Makes sense. Capital is capital, and most everything has the supply-and-demand contraint built in.
(DIR) Post #9tmosc16QlZ4ZKANN2 by jankoekepan@mastodon.xyz
2020-04-07T02:34:18Z
0 likes, 0 repeats
@klaatu Capitalism is based upon individual control of capital.Capital is an accumulated stock of value.Value is ultimately in the eye of the beholder.Cash is just another commodity, in that measure - the structures around individual control of value do not require any particular commodity as a component, money is simply a convenient medium of exchange.Fiat currency is a whole other topic, but you didn't ask about behavioural or monetary economics.
(DIR) Post #9twvSxBzYO3qo8Bve4 by kelly_clowers@mastodon.technology
2020-04-11T23:35:10Z
0 likes, 0 repeats
@klaatu LMAO