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RE: Capitalism and its Powers

in #capitalism2 years ago

I agree with a lot of what you had to say about how giving is the foundation of capitalism and how this process started with indigenous people a long time ago. I think one thing that makes this cycle of reciprocal giving so powerful is that the giver has to know the desires of the recipient intimately to give a gift that truly fits their needs. If he/she does that, they should respect the same sort of treatment in return. You summed this concept up nicely with, “This is because to effectively provide a gift to the recipient, the giver must expend their time and effort to fully understand the recipient”. The ability to fulfill the needs of others is what drives the economy forward and is the building block of capitalism. Anymore companies are not necessarily giving gifts to their consumers in the same sense that indigenous peoples used to do. Nowadays we see this sort of process in investment. Companies can invest in smaller companies or in individuals, giving them a sum of resources up front but with the expectation that they are compensated with interest at a later date. This may present as altruistic, but the end goal is that the giver satisfies his or her desires in the end. If this is done effectively, both parties can consider themselves to be better off. While giving can be an effective way to drive the economy forward, I don’t necessarily agree that it is the only way. I think selfishness through competition can also lead to capitalistic success. Instead of entrepreneurs focusing on the desires of the consumer, they may be more motivated by crushing the competition. If they still produce a high-quality product at an affordable price, the world is better off. Just because they are acting in a selfish manner does not mean they can’t be successful or satisfy the customer. I do not believe, however, that anyone can consider themselves to be strictly greedy or giving. I think there is a spectrum that individuals fall on and their position can change day to day based on the situation they are presented with. As long as there is continued innovation and the consumer is better off, I would consider the transaction to be a success.