🎓 Dr. Freemo :jpf: 🇳🇱 on Nostr: npub15th6y…a6nvx Concentrating wealth in the hands of a few individuals creates a ...
npub15th6y0m8c79aq5qg2arvpw955jr4c5cvvvvkrxz70tnh4n282dzq2a6nvx (npub15th…6nvx) Concentrating wealth in the hands of a few individuals creates a power imbalances that favor the wealthy elite at the expense of the majority,
Thats a circular argument. Concerntrating wealth creates wealthy people, absolutely, thats the point. It doesnt favor the wealthy, it creates them, exactly as we should want it to (assuming this is concentration is a factor of utility, which in a healthy capitalism it is). checks and balances within a capitalist system are sufficient to prevent abuse of power that these power imbalances spawn.
Whether they are sufficient or not dependent entierly on the government. Some government lack sufficient checks and balances on power, others do not. There is nothing inherent about capitalism that garuntees these checks and balances are absent. Capitalism itself inherently exploits workers through the extraction of surplus value from their labor.
Wrong, capitalism provides the necessary utility to workers to allow their labor to have surplus value, surplus value that their labor would not have on its own. It’s not correct to only attribute exploitation to individual actions…
Agreed, it would be incorrect to attribute exploitation only to individual actions. Which is why i didnt do that, I expressed both the effects of individual actions and collectively (checks and balances are a collective actions). and ignore the effects of #capitalism
Its not the effects of capitalism, so those arent ignored.
npub126h5d36agq6s0segk5y5mzukkjjtngufg542mdetvvknjtsmwzuqtve7ft (npub126h…e7ft)
Thats a circular argument. Concerntrating wealth creates wealthy people, absolutely, thats the point. It doesnt favor the wealthy, it creates them, exactly as we should want it to (assuming this is concentration is a factor of utility, which in a healthy capitalism it is). checks and balances within a capitalist system are sufficient to prevent abuse of power that these power imbalances spawn.
Whether they are sufficient or not dependent entierly on the government. Some government lack sufficient checks and balances on power, others do not. There is nothing inherent about capitalism that garuntees these checks and balances are absent. Capitalism itself inherently exploits workers through the extraction of surplus value from their labor.
Wrong, capitalism provides the necessary utility to workers to allow their labor to have surplus value, surplus value that their labor would not have on its own. It’s not correct to only attribute exploitation to individual actions…
Agreed, it would be incorrect to attribute exploitation only to individual actions. Which is why i didnt do that, I expressed both the effects of individual actions and collectively (checks and balances are a collective actions). and ignore the effects of #capitalism
Its not the effects of capitalism, so those arent ignored.
npub126h5d36agq6s0segk5y5mzukkjjtngufg542mdetvvknjtsmwzuqtve7ft (npub126h…e7ft)