I mean, capitalism does have to do with resource allocation, or rather allocative power. It’s defining feature is that allocative power is used in service to grow the allocative power of those whose allocative power was used to allocate resources in the enterprise under consideration. This doesn’t require a free market whatsoever, and that’s why things like state capitalism exist. The other corollary to this is that it inevitably tends towards constricted markets as allocative power naturally consolidates among fewer and fewer holders as time goes on.
All these tankies down voting you as if the entire world wasn’t running on this principle and as if something better existed. Free markets with oversight are simply unbeatable - fact.
Ah yes. What a wonderfully efficient system capitalism is. So very good at utilizing resources.
Free markets are a lot more efficient than trying to run the whole economy from the top down. We just need to tax accumulated wealth.
There are other systems than unhinged capitalism and top down communism.
Like?
Capitalism and free markets are not the same thing, nor is either particularly necessary to the other.
Free markets are absolutely necessary for capitalism.
Yes. Buuut what type of capitalism are we talkin’ bout?
Or exclusive.
The comment I was replying to seemed to assume capitalism had something to do with resource allocation.
I mean, capitalism does have to do with resource allocation, or rather allocative power. It’s defining feature is that allocative power is used in service to grow the allocative power of those whose allocative power was used to allocate resources in the enterprise under consideration. This doesn’t require a free market whatsoever, and that’s why things like state capitalism exist. The other corollary to this is that it inevitably tends towards constricted markets as allocative power naturally consolidates among fewer and fewer holders as time goes on.
All these tankies down voting you as if the entire world wasn’t running on this principle and as if something better existed. Free markets with oversight are simply unbeatable - fact.
What’s the largest manufacturing country
You think China is not capitalist? China that told it’s citizens to: please stop competing so much?
It actually is VERY good at utilizing resources.
Preserving them for the future, not so much.
Not quite. Factories will stay closed, houses empty.