(I have no quibble with anything you wrote previous to this)

How do we measure the success or failure of the system. We have the potential for vastly more accurate measurements than we had in the past. Are the products that are being produced allowing the whole society to live well? Is money as the key measuring system able to measure the health of a society? If a nations total economy increases but that increase is all in the top segment, meanwhile lower segments are losing the ability to live well, is that measure of the nation’s income reflective of the health of the society?

Two thoughts here. The first is that we really don’t measure production very well. We spend a lot of time guessing.

But, the key consideration here is the balance between the industrialist and labor. The problem here is that non management jobs of high value are disappearing due to automation and offshoring. This situation leads to more and more profit routing itself into the pockets of the upper .1% or so of the earners. This situation will get worse, not better, over time. Inevitably.

Hence capitalism serves a society well when it is establishing new industry segments, as long as the products of that industry are serving the society. Once industries are established capitalism turns to cannibalizing society. At this point pure greed as a motivator stops serving the purpose of building society and another form of motivation is needed that will not reward cannibalizing your own society or balances are needed to protect society from the corporations.

The problem here is that the capitalist still requires a profit motive in order to engage in commerce. Remedies which interrupt that profit motive lower the interest in engaging in commerce.

It’s a problem, and why all sorts of “movements” have popped up in society (preppers, agrarians, $15/min wage, UBI…..). Nobody knows how to address it.

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Data Driven Econophile. Muslim, USA born. Been “woke” 2x: 1st, when I realized the world isn’t fair; 2nd, when I realized the “woke” people are full of shit.

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