layman_economics on Nostr: I hate it when some people blame capitalism for the bad things happening today ...
I hate it when some people blame capitalism for the bad things happening today because I’d argue that the world we live in today is far from being a capitalist world.
If our world today is truly or largely capitalist, we’ll see free and open competition everywhere. People will constantly compete with one another, trying to provide high-quality goods and services at the lowest possible prices.
In other words, if our world today is truly or largely capitalist, deflation should be the norm.
But do we see deflation everywhere today? No!
Instead, we see inflation everywhere!
This is a clear sign that the world today is far from being a capitalist one.
So, when I hear people blaming things on capitalism, what I really want to say to them is this: Stop putting the blame on something that doesn’t even exist!
#economics #economy #capitalism
If our world today is truly or largely capitalist, we’ll see free and open competition everywhere. People will constantly compete with one another, trying to provide high-quality goods and services at the lowest possible prices.
In other words, if our world today is truly or largely capitalist, deflation should be the norm.
But do we see deflation everywhere today? No!
Instead, we see inflation everywhere!
This is a clear sign that the world today is far from being a capitalist one.
So, when I hear people blaming things on capitalism, what I really want to say to them is this: Stop putting the blame on something that doesn’t even exist!
#economics #economy #capitalism