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TopicDo you like capitalism?
averagejoel
12/03/19 3:01:34 PM
#131:


darkstar4221 posted...
averagejoel posted...
darkstar4221 posted...
averagejoel posted...
none of that is inherent to capitalism, but it can all coexist with capitalism, because those characteristics are not exclusive to socialism. neither is government regulation


Taken from wikipedia
https://en.wikipedia.org/wiki/Mixed_economy#Typology
This meaning of a mixed economy refers to a combination of market forces with state intervention in the form of regulations, macroeconomic policies and social welfare interventions aimed at improving market outcomes. As such, this type of mixed economy falls under the framework of a capitalistic market economy, with macroeconomic interventions aimed at promoting the stability of capitalism.[30] Other examples of common government activity in this form of mixed economy include environmental protection, maintenance of employment standards, a standardized welfare system and maintenance of competition.

Also capitalism is based on voluntarism, minimum wage laws and regulations that artificially increase the cost of hiring an employee is compulsory. The business owner does not have full control over their business because of regulations, that is anti-capitalism. Because capitalism means private ownership of the means of production and their operation for profit.

it's not anti-capitalism. a "mixed economy" is just capitalism with some social programs. it's not a fundamentally different economic system


One of the characteristics of capitalism is voluntary exchange. When the government sets wages for low-skilled workers, that is not a voluntary exchange, it's a form of price control actually.

under capitalism, the vast majority of exchange is not voluntary.

the vast majority of people have to sell their labour in order to survive. the risk of being unable to pay rent or buy food is a type of coercion. since corporations don't depend on any singular worker to continue, they have significantly more bargaining power in this equation. setting wages is a way of evening the playing field, but it's still heavily weighted in favour of the corporation and against the worker
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