Economy
In reply to the discussion: STOCK MARKET WATCH - Monday, 6 February 2012 [View all]Demeter
(85,373 posts)Capitalism enabled mass-production and mass-distribution. I'm not sure if either has ever been accomplished without the investment of a large sum of money--which is basically what I see as capitalism, where the money comes from individuals.
For socialism's version of capitalism, the money comes from the state--tax revenues, printing press, seizure, whatever.
To the extent that bringing the marketplace to the ends of the earth is a good, capitalism did good.
To the extent that Capitalism instituted "Quality Control" (a favorite term in engineering/manufacturing), standardizing the product (toasters, drugs, anything more complicated than the 17th century) so that it was safe and efficacious, Capitalism did good.
To the extent that Capitalism honored the Workers' contributions and contracts, Capitalism did good.
To the extent that Capitalism contributed its fair share to the Government (socialism) and obeyed government law, capitalism did good.
But what we have now is fraud and piracy, where worker, investor, government and the general public get screwed by a roving band of brothers, the 1%ers. I submit, that isn't Capitalism.