I mean... even framing this as a "both sides" debate pisses me off. It's exceedingly bad faith.
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Clearly we're being impatient.
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I'd love to know how often social responsibility is mentioned in business courses compared to responsibility to shareholders.
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When the policy is still thought right 50 years on despite all the evidence that goes against everything he spoke of. I quit economics at U of Chicago when I saw how Friedmanism was bullshit. In 1981.
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People miss the caveats “enlightened” and “long term”. Businesses playing to max out immediate returns at the expense of others are neither. Additionally, unchecked capitalism is ugly and we need rule of law.
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The main power & vulnerability of capitalism is it rewards self-interest. Choice between self-interest & social good? Incentive's always the former, & that leads to long term economic harm if unchecked. We need to build economic structures that require social good consideration.
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Usually what pro-capitalists mean when they say this is a perfectly happy community living independently and sustainably outside the capitalist system has their natural resources stolen and is forced to work as wage slaves. From (non-capitalist) “poverty” to “wealth”
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“Greed, for lack of a better word, is good.” There’s nothing better than a good justification for your own selfishness.
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