this post was submitted on 29 Nov 2023
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Capitalism is undeniably declining, though. Production is through the roof, but wages have stagnated with respect to that. Factorization in the sense of industrialization was never seen to go against Capitalism, rather, with the rise of factories came the rise in Capitalism.
Unless I'm misunderstanding your point, of course.
Additionally, the fact that one prediction was wrong does not necessitate that all predictions are wrong.
The amount of people living in extreme poverty was 94% in 1820. In 1981, it was 44.3%. In 2015, 9.6%. This effect is entirely due to Capitalism. Perhaps wages in the West have stagnated because people in other countries deserve those better wages more? Just a hunch, no data to back that one up, except these statistics.
This incredible success in saving people from horrible conditions might not continue, but the recent history has been pretty great.
Development did, not Capitalism. The countries that developed the most in the 1900s were the ones rejecting Capitalism in favor of some form of Socialism.
Do you think that people get richer when a group of people decide they have no rights of ownership and one person owns everything, or do you acknowledge that democracy and decentralization are good?
False dichotomy. Those are obviously not the actual two options.
They are.
To argue for Capitalism over Socialism, you must reject the idea of democratizing control of productuon in favor of dictatorial control. You can whitewash it into "meritocracy," and pretend that ownership is a mystical concept that chooses those with the highest competency, but ultimately Capitalism is a rejection of Worker Control, and thus an affirmation of control in the hands of the few.
Similarly, to believe that this dictatorial control is worth it, you typically must also believe that growth is either non-existant if the Workers direct it, or pales in comparison to when Capitalists control production.
Therefore, you are rejecting the concepts of decentralization and democratization of production in favor of the "good men" theory, putting all your chips on Capitalists either being good people or being replaced by better Capitalists without input from the Workers.
Did I deliberately highlight the flaws of your thinking without putting the kid gloves on? Yes, and I won't apologize for it, as the claims are logically a necessity to hold your beliefs.
There are socialist laws that govern and assist the poor everywhere in the world, so I would attribute the claim that "fewer people living in poverty" to socialism rather than capitalism; aside from that, those figures entirely depend on how poverty is defined.