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Gen Z embraces 'safety capitalism', says current social safety net is broken
(www.businessinsider.com)
this post was submitted on 29 Feb 2024
307 points (92.1% liked)
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Capitalism requires the state to function. Directly with all the laws, regulations, and courts that allow businesses to exist as legal entities, determine who owns private property, contract law, etc. Indirectly, because capitalism tends to collapse every 10 years or so, and without safety nets or bailouts, there would be a revolution.
I agree, but that system you are referring to is a very very small part of the current government. And no, capitalism doesnt just collaspe via revolution every 10 years, its the most stable system.
Capitalism does collapse ~10 years in the U.S., and requires great intervention by the government or federal reserve. E.g. 1981, 1990, 2000, 2008, 2020. I'm arguing that without the intervention or social safety nets, and families started starving, there would be a revolution.
Sigh, the federal reserves is literally the reason "capitalism" is going to fail. If you want I can explain what the federal reserve does and how it harm you, but you guys never seem to want to know that information.
I understand the Fed pretty well. I'm going to assume you listen to the Austrian economic school, or are just a crypto bro, whereas I tend to like the New Keyenesian school; as long as we're keeping a capitalist system. Austrian school lacks mathematical rigor and libertarians just like it just because it's prescriptions align with their ideaology, IMO.
Of all the groups the libertarians are the only ones that actually understand economics. Both of the major parties live in imaginary money land where the fed solves problems and save the world. The issue with the fed is direct and obvious.