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this post was submitted on 14 Feb 2024
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Alternative title: Capitalism doesn't care about morals and contracts. It wants to make more money.
Exactly. Capitalism spits in the face of the concept of a social contract, especially if companies themselves didn't write it.
Capitalism, at least, in a lassie-faire marketplace, operates on a social contract, fiat money is an example of this. The market decides, the people decide. Are there ways to amass a certain amount of money to make people turn blind eyes? For sure, but all systems have their ways to amass power, no matter what
I'd say that historical evidence directly contradicts your thesis. Were it factual, times of minimal regulation would be times of universal prosperity. Instead, they are the time of robber-barons, company scrip that must be spent in company stores, workers being massacred by hired thugs, and extremely disparate distribution of wealth.
No. Laissez-faire capitalism has only ever consistently benefitted the already wealthy and sociopaths happy to ignore social contact for their own benefit.
You said “a social contract”. Capitalism operates on one. “The social contract” as you presumably intend to use it here is different. Yes, capitalism allows those with money to generate money, but a disproportionate distribution of wealth is not violation of a social contract. I’m not arguing for deregulation, FAR from it, but the social contract is there. If a corporation is doing something too unpopular then people don’t work for them and they cease to exist.
Unfortunately, this is not generally the case. In the US, for example, the corporation merely engages in legalized bribery to ensure that people are dependent upon it (ex. limiting healthcare access, erosion of social safety nets) and don't have a choice but to work for them or die. Disproportionate distribution of wealth may not by itself be a violation of social contact but if gives the wealthy extreme leverage to use in coercing those who are not wealthy and further eroding protections against bad actors. This has been shown historically to be a self-reinforcing cycle that requires that the wealthy be forced to stop.
Yes, regulations should be in place, but the “legalized bribery” isn’t forcing people, it’s just easier to stick with the status quo than change it. They aren’t forced to die, it’s just a lot of work to not. The social contract is there, it’s just one we don’t like
Capitalism is a concept, it can't care if it wanted and it even can't want to begin with. It's the humans. You will find greedy, immoral ones in every system and they will make it miserable for everyone else.
Capitalism is the widelly accepted self-serving justification of those people for their acts.
The real problem is in the "widelly accepted" part: a sociopath killing an old lady and justifying it because "she looked funny at me" wouldn't be "widelly accepted" and Society would react in a suitable way, but if said sociopath scammed the old lady's pension fund because (and this is a typical justification in Investment Banking) "the opportunity was there and if I didn't do it somebody else would've, so better be me and get the profit", it's deemed "acceptable" and Society does not react in a suitable way.
Mind you, Society (as in, most people) might actually want to react in a suitable way, but the structures in our society are such that the Official Power Of Force in our countries is controlled by a handful of people who got there with crafty marketing and backroom plays, and those deem it "acceptable".
People will always find justification to be asholes. Capitalism tried to harvest that energy and unleashed it's full potential, with rather devastating consequences.
Sure, but think-structures matter. We could have a system that doesn't reward psychopathic business choices (as much), while still improving our lives bit by bit. If the system helps a bit with making the right choices, that would matter a lot.
That's basically what I wrote, (free) market economy especially in combination with credit based capitalism gives those people a perfect combination of a system to thrive in. This seems to result in very fast progress and immense wealth, which is not distributed very equally. Than again, I prefer Besos and Zuckerberg as CEOs rather than politicians or warlords. Dudes with big Egos and Ambitions need something productive to work on.
It's deemed "acceptable"? A sociopath scamming an old lady's pension is basically the "John Wick's dog" moment that leads to the insane death-filled warpath in recent movie The Beekeeper.
This is the kind of edgelord take that routinely expects worse than the worst of society with no proof to their claims.
This is the kind of shit I saw from the inside in Investment Banking before and after the 2008 Crash.
None of those assholes ever gets prison time for the various ways in which they abuse markets and even insider info for swindeling amongst other Pension Funds, so de facto the Society we have with the power structures it has, accepts it.