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The flaw in capitalism and the flaw that makes it unmanageable is how over time capitalism will find ways to extract more for less.
This will always fall to the workers. The recent recession had tax payers bail out the banks as well as pay bonuses. all because banks got very greedy.
Its not a flaw, its working as planned. But yeah, our “market solutions”, basically any problem created by capitalism just gets exploited for profit. Even when the economy crashes its actually a good thing for the very rich, as it " disciplines" labor, moves people down and out of the middle class which lowers wages systematically, takes out a few competitors, etc.,
Strong “I can fix him” energy out there.
People blame capitalism, but capitalism isn’t the problem. The problem, as always, is power.
Under feudalism things were much worse. Serfs worked 6 days a week, 12+ hours a day. Up to 3 days of that week was spent tending your lord’s lands for free.
Under absolute monarchies, dictatorships and police states you work as hard as you can for whatever hours your employer sets, and you keep any complaints to yourself or you’re dragged off to a camp, or summarily executed.
So far, every time “communism” has been tried, it was just a dictatorship or police state where the leaders pretend that there’s a higher ideal.
Capitalist republics don’t give people at the bottom much power, but they get a little bit. And, that little bit is the best that the people at the bottom have ever had, even if it isn’t much.
The fact that there are people at the bottom isn’t the fault of some political system, and especially isn’t the fault of capitalism, it’s the fault of human nature.
Capitalism is better than feudalism, yes. The problem is that Capitalism inevitably gets to the point where it is more detrimental to the population as a whole than it is beneficial (Global Warming, Wealth inequality, power imbalances, etc.), and that point is now.
Capitalism did bring us many advancements, but we have outgrown it. Just because it did good things at some point doesn’t mean that there isn’t something better. We should all be striving towards better as a species, but we aren’t.
