TurbulentPhoto3025 t1_it2ttwd wrote on October 20, 2022 at 3:07 PM

Reply to comment by bcanddc in Number of poor people in India fell by about 415 mn between 2005-06 and 2019-21, a 'historic change': UN by AP24inMumbai

There's more than one way to skin a cat imo. Facilitating worker productivity while maintaining efficient markets hasn't been exclusive to capitalism. From my perspective, capitalism is mainly focused on putting the productivity gains from workers in the pocket of capitalist, leading to large income inequality and consequently power inequality, which makes economies leaning too much on capitalism unable to sustain functioning democracies. US capitalist have always had disproportionate power, but as inequality grows, I don't think normal people even have the illusion they have any meaningful control over their government.

bcanddc t1_it2vec2 wrote on October 20, 2022 at 3:17 PM

Crony Capitalism and capitalism are not the same. Term limits and an end to corporate political donations/bribes ends that but still keeps the mechanisms that drive innovation and productivity.

TurbulentPhoto3025 t1_it3ar61 wrote on October 20, 2022 at 4:56 PM

The old euphemism is true. Money is power. Acute income inequality inevitably ends in power inequality. Crony capitalism is a by product of countries that lean too much on capitalism. Our oligarchs/capitalist, like Gates and Bezos, buy our media or control our communication via social media like here to completely control the narrative for example. Big government, big corporations, big oligarchs, etc., it's all worthy concern, but most have blinders to one or two of these items.