Subj : Re: Recession to Depressi
To : Boraxman
From : Kaelon
Date : Sat Jul 23 2022 10:24 am
Re: Re: Recession to Depressi
By: Boraxman to Kaelon on Sat Jul 23 2022 10:54 am
> What *IS* true Capitalism? Serious question. IT seems to me like saying if
> we has TRUE Christianity then.... That just invites debate as to which is
> the true Christianity. Is it the Catholics, the Orthodox, Jehovah's
> Witnesses?
First of all, I would never advance dogma as part of a central truth. Truths have factual elements born from observation and experimentation to establish their systems of tautology. Dogma would advance absolutes regardless of facts, and the idea that "Capitalism must look exactly like this in order for it to be qualified as capitalism," is misguided zealotry, at best.
Capitalism's central tautological tenets, therefore, have been borne out through history, and I understand them to be as follows, at their "core":
1. Free Markets, open to easy and unencumbered entrance by new players, to spur genuine competition so that customers have comparable choices and companies have incentives to innovate.
2. Anti-Trust, so that large companies do not consolidate the marketplace to eliminate the possibility of new entrants from competing or limit the choices that consumers have when determining what to purchase.
3. Transparency, in understanding the way in which companies are managing their businesses so that shareholders can make informed decisions about where to invest and how to cast votes.
4. Accountability, in ensuring that for every reward gained there is a proportional and real risk endured in the marketplace by its actors, and that success is rewarded and failure accordingly punished.
5. Openness, in ensuring that government does not interfere in the participation in its market by creating favored winners or losers, but whose only laws and regulations exist to enforce the above characteristics.
Those are my views. What do you think? Capitalism shouldn't be a religion. It should be a constant civic virtue to make the system work through freedom, anti-trust, transparency, risk-and-reward, and institutional openness.
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-=: Kaelon :=-
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