A theory to use as a standard for regulation assuming you are restrained to a capitalist system, maybe.
But it is a system that can be maintained with appropriate regulation.
The nature of Capitalism requires that some have while others have not. Many of those among the capitalist class will use the full force of their power to obstruct and corrupt regulation, find loopholes, and obtain more power. Regulatory capture, pivoting to the bleeding edge of industry where nobody knows how to regulate yet (financial derivatives, crypto, AI), or just leading a coup - they’ll find a way.
The only way is something that resembles socialism, but you can call it “appropriate regulation” if it makes you feel better. Sure, competition has its place… but it doesn’t belong anywhere near basic human needs.
Market socialism can be distinguished from the concept of the mixed economy because most models of market socialism propose complete and self-regulating systems, unlike the mixed economy. While social democracy aims to achieve greater economic stability and equality through policy measures such as taxes, subsidies, and social welfare programs, market socialism aims to achieve similar goals through changing patterns of enterprise ownership and management.
I mind if you are simultaneously linking to a Wikipedia article defining it as being completely self regulated, lacking any form of social welfare.
Capitalism’s problem is that, ultimately, it’s “compete” or die because you need to work to afford to live. I’m not necessarily advocating for the nationalization of all industries or a command economy. There can be competition, but the playing field needs to be leveled first. Workers owning the enterprise as a collective is a step in the right direction but that still leaves the door open for “B2B” exploitation when an enterprise’s failure can mean its workers now cannot afford to live.
A theory to use as a standard for regulation assuming you are restrained to a capitalist system, maybe.
The nature of Capitalism requires that some have while others have not. Many of those among the capitalist class will use the full force of their power to obstruct and corrupt regulation, find loopholes, and obtain more power. Regulatory capture, pivoting to the bleeding edge of industry where nobody knows how to regulate yet (financial derivatives, crypto, AI), or just leading a coup - they’ll find a way.
The only way is something that resembles socialism, but you can call it “appropriate regulation” if it makes you feel better. Sure, competition has its place… but it doesn’t belong anywhere near basic human needs.
Mind if I call it market socialism?
I mind if you are simultaneously linking to a Wikipedia article defining it as being completely self regulated, lacking any form of social welfare.
Capitalism’s problem is that, ultimately, it’s “compete” or die because you need to work to afford to live. I’m not necessarily advocating for the nationalization of all industries or a command economy. There can be competition, but the playing field needs to be leveled first. Workers owning the enterprise as a collective is a step in the right direction but that still leaves the door open for “B2B” exploitation when an enterprise’s failure can mean its workers now cannot afford to live.