Once you understand the essence of Capitalism, you will realize that it is indeed the best system that humans can live by. I wrote already an article emphasizing the importance of Capitalism and how the risk should be isolated and not socialized, read it here, it's a long philosophical read:
But in this article I am going to sum it up, clearly and understandably so that everyone can understand it.
The Essence
The essence of Capitalism is not money. It's counterintuitive, but money is more like the fuel, it's a tool used to play the Capitalist game. The real essence is actually: "Creation". Capitalism is a game where you build things, projects, businesses, and create new wonders for humans to play with.
The more money you have, the more you can play, and you can earn money by playing the game. So it's essentially a Game of Creation.
Now of course we can debate the ethics of it, I mean if the destruction is bigger than the creation, then that is immoral. Like if a Bankster loots your bank account through a bail-in, and as a result millions of people lose all their money, well that is clearly a scam, and it's should not happen.
But if you create cryptocurrency, like Steem, and provide an earning opportunity to now more than 270,000 people according to @elyaque. Well that is exactly what I am talking about. Steemit didn't exist in the past, now it does, and people are making money. It's just that simple.
The Market
The market is a wonderful system that quantifies risk, as I talked about in the last article, and if the risk is isolated, then the market is a perfect quantifier of risk.
But if the risk is socialized: pension-ponzi scheme, government bond ponzi-scheme, central bank inflated stock market, social safety net, and other horrible distortions, then it's really hard to quantify risk.
It is the utmost importance to quantify risk. If you can't estimate risk, you will die. Literally. If you don't know the risk of something, or you underestimate it, then it could lead to your death.
- If you think taking 2x the amount of medicine prescribed is healthy, then you will probably die.
- If you think playing in the middle of the road, just because the statistics under-reports the car accidents, then you will die.
- If you think paying into a pension ponzi-scheme is good just because the government guarantees the payout, but later the game collapses (hint: Venezuela), and there you sit a 80 year old grandpa with no money to survive, you will probably die
- If you think storing all your money in a bank account because you were told it's safe, but then a bail-in happens and all your life savings are gone, then it could be fatal, shit now you have no money for medical expenses and your healthcare is probably gone too
So yes, it is the utmost importance in a free society to quantify risk correctly, otherwise it can be fatal, literally, that is the worst thing that can happen.
The market, if it's a free market, is a perfect tool to quantify that:
- Do you think your health is in risk? Apply for a healthcare insurance, the rates will be determined by the free market. If your rates are low, you can be safe to know that probably your health is in good shape, but even if some some medical emergency happens, you can stay safely since you know you are covered (that is if the insurer pays, it should probably be put on the blockchain)
- Do you think your house can catch fire? Apply for a fire/natural disaster insurance, if the rate are low, you bet the risk of that will be low. Of course you should be smart enough to not play fire games in your bedroom.
......
And thing like that. If your healthcare cost is low, then you can pay it. If you healthcare cost is high, then don't fucking run to the Government for "socialized healthcare", again it's the same shitty mentality that wants to collectivize risk, and then of course nobody will be responsible, as I talked about in the other article, this is the path of doom of a civilization.
Here is what you can do if your healthcare cost is high:
- If you are fat, go hop on a threadmill, or go jogging, and lower your daily calory intakes. Stop eating shitty fastfood, and eat more vegetables, it's healthy and you'll lose more weight.
- If you are a smoker, just quit, today!
- If you are a drinker, just quit, today!
- Don't eat shitty GMO food, full of pesticide and other chemicals
- Exercise every day
- Move to a rural area because the cities have too much pollution
- Don't eat pork or other meat that has traces of blood in it, usually the Kosher diet is very good if you are a meat eater, but you can also become a vegan, I heard it's very healthy
... and things like that
But to go and scream to the Government for socialized healthcare is just insane... Especially since that again seemingly removes the risk, but it doesn't actually remove the risk. It just distributes it across the entire society.
And it creates a FASCIST SOCIETY, yeah, like bundles of sticks coerced together under the mighty axe. Better pay your social taxes or we will send blue uniform thugs to your house that will kidnap or murder you.
And how the social safety net is supposedly to catch the poor people from falling into the abyss. If it breaks, then everyone falls into the abyss.
This is exactly what is happening now in Venezuela:
Sources:
There actually a good essence of capitalism
nice post
Communism literally the bane of Humanity, might sound nice in theory but flawed in every single actual iteration. It is literally impossible to put everyone on the same level.
But you could have a violent coercive Government that could try by:
.... and so on.
You don't have to be a rocket scientist to figure out what the consequences of that are:
Wow, you obviously have lived this. I can identify with your description because I have lived thru some of the scenarios you describe. And you are right about being totally free society, in my case it was fatal. (crash in 08)
I have never had it put into words the way you have in this post.
Great post, I'm following you
I haven't lived through it yet, but if the stupid masses go down the wrong way, this stupidity might just come here too.
But I have studied ex-communist countries and I have traveled to some. I have saw with my own eyes how bad it was before and after.
Venezueala now is in the collapse period. The endgame of Socialism.
The article you linked to is over a year old. Perhaps you should use the past tense at this point?
You mean the Venezuela one? Yes but it;s still actual, in fact since then the situation got much worse. Now people are rioting in the streets and cause all sorts of problems. It became a hellhole.
Nicely summarized piece, capitalism is indeed a healthy path for society.
Individual responsibility should be the beacon.