Thank you for a better world, profits

in #economics3 years ago

Capitalism and free-markets have delivered stunning results in the last two centuries. Life on Earth has improved dramatically, with the world of today being orders of magnitude better than it was at any point in History.

It was expected, then, that people would be praising the system and the values that ignited this powerful progress.

Yet, that doesn't happen. Often, quite the contrary happens.

Why? Capitalism advocates frequently defend that the cause is the misconception about the meaning of capitalism.

That misconception is real, but if that was, in fact, the cause, wouldn't people defend the same system and principles under some other name?

Generally, there are two types of "deniers":

1 - Those who think the world is worse;

2 - Those who acknowledge the word is better and that attribute it to "technology".

To address the first group, the first thing to do is to grab a set of data and just show it. Then, they may fall into the second group.

On the other hand, this second group falls into the perfect trap. To justify the world's development with technology is actually justifying it with capitalism.

Technological development is the result of capital accumulation. It turns out that capital accumulation is most effective under capitalism and free-markets, where profit (i.e. capital accumulation) is praised and where capital goods (technological development) should contribute to increase profitability.

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