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Jack's avatar

The question I pose to professed anti-capitalists is: What is the viable alternative? Let's say we have a risky business proposition requiring the up-front investment of a lot of capital. (Building a new factory, say.) Under a capitalist system the owner of that money makes the decision, and as you point out in this piece that gives them skin in the game and a strong incentive to take the decision seriously.

What other viable decision-maker is there in this instance? A government committee? That's bound to get mired in politics and virtue-signalling. A worker collective? This will probably focus on short-term thinking (worker wages, etc.). I have never gotten a real answer from an anti-capitalist on these practical decisions at the root of everything.

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Mike Randolph's avatar

I find myself aligning with your priorities, Robin, particularly your focus on a world that 'works.' However, I'd argue that the scope of what makes a world 'work' extends beyond commerce and economic efficiency. In 1973 when I worked in New Jersey across from Staten Island, the Arthur Kill was dead. DuPont operated a chemical plant that became a superfund site. DuPont was an industry leader in safety and environment; how long would the cleanup have taken without regulations?

The current climate crisis appears to be the result of regulatory failure. In today's complex information landscape, the need for thoughtful regulation is urgent, albeit in different forms.

A world that 'works' should also consider ethical, social, and environmental factors, creating a balanced ecosystem where commerce is just one aspect of a thriving community.

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