Capitalism

[RWStanding]

Capitalism is not a social system it is the rule of the wild employing money instead of teeth
Its history is that of sharp edges being smoothed enough to make it acceptable or at least avoid revolt.
Where a commodity is suddenly in short supply unit prices still have to cover production costs which may not fall
At this point competition by consumers for limited supply may cause further price rise, and even extreme rise
Producers then accrue profits that are not related to production costs
Consequently, those who cannot afford the new unit cost reduce usage perhaps to nil and suffer malnutrition or starve etc
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A genuine economic-social system will step in at the point where commodities are in short supply.
At the very least reducing the profits of producers so as to aid those on lowest income.
Or taking measures to ration the commodity according to need – globally and nationally.
A socially responsible economic system will have inbuilt rationing and price control, to limit excess.
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Free trade etc is humbug. It is the regulations of employment, production and trade, that matter and need to be addressed.

[Sculptor]

Capitalism is six individuals owning more wealth than 13 million of the poorest in the UK

[Hermit Philosopher]

…/Free trade etc is humbug./…

Dear RWStanding,

Could you tell us what you mean by “etc.” in the quoted sentence?

And, when you say that free trade is “humbug”; do you mean that it’s irrelevant, or do you mean that it no longer exists because capitalism today is a monopoly?


Humbly
Hermit