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Capitalism is the paywall of life
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this post was submitted on 07 Jul 2023
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Well-regulated capitalism on the other hand has resulted in an explosion of technological advancement like no other era in human history.
The key is regulation. Not too little, but not too much either. Some things, like minimum wage, are clearly under regulated. Other things, like mandating USB-C, are honestly better left to the free market (and I fucking love USB-C.)
I am pro healthy capitalism too (including strong welfare state) but don't agree that capitalism deserves any credit for technological advancement. Science does. And there shouldn't be any comparison between the totalitarian states and free-capitalism states of the past. We can't give credit to a thief for prosperity because he is not a murderer.
Science doesn't exist in a vacuum. With capitalism, you're directly incentivized to invest in R&D because you can come out with a better product that people will want, thus advancing science. Everything from the lightbulb to HVAC machines started as capitalistic endeavors as opposed to purely academic ones.
It starts out that way, but regulation always fails and things get worse. The scientific method is young, most inventions were stolen and excessively exploited wayyyyy past what's ethical, and the standard expectation for level of exploitation is exponentially approaching dystopia. But at least capitalism will save us! (Good luck!)