First  Prev  1  2  3  Next  Last
Post Reply Capitalism benefits the working class far more than the ruling class
2047 cr points
Send Message: Send PM GB Post
24 / M / USA
Offline
Posted 10/26/15 , edited 10/27/15
"Industrial progress, mechanical improvement, all of the great wonders of the modern era have meant little to the wealthy.

The rich in ancient Greece would have benefited hardly at all from modern plumbing — running servants replaced running water.

Television and radio — the patricians of Rome could enjoy the leading musicians and actors in their home, could have the leading artists as domestic retainers.

Ready-to-wear clothing, supermarkets — all these and many other modern developments would have added little to their life.

They would have welcomed the improvements in transportation and in medicine, but for the rest, the great achievements of western capitalism have rebounded primarily to the benefit of the ordinary person.

These achievements have made available to the masses conveniences and amenities that were previously the exclusive prerogative of the rich and powerful." Milton Friedman
Posted 10/26/15
Yes, we get to enjoy the luxury of fast food like mcdonalds and kfc, while they have to wait hours just for an appetiser.

Go working class.
3349 cr points
Send Message: Send PM GB Post
16 / M / Ente Isla
Offline
Posted 10/26/15 , edited 10/26/15
Capitalism does indeed benefit the working class. In fact, I'd argue that it benefits the majority of people as a whole when done right. Crony capitalism, however, favors a specific group of people at the top -- and keeps everyone at the bottom down. It is an oligarchical, unacceptable perversion of the free market where the reverse is true: benefiting the ruling class far more than the working class.

Sadly, many people seem to be under the impression that the latter is the same as the former. This leads to them either condemning the economic system as a whole or embracing unjust, unsound policies as staples of the free market.
2270 cr points
Send Message: Send PM GB Post
21 / F / Southern US
Offline
Posted 10/26/15
Right, that's why any rich person would be happy to go back in time and live as a rich person millennia ago.

As things progress, quality of life goes up for all - this isn't a trait of capitalism alone. The same would occur under a Communist or Socialist system, too.

However, capitalism allows wealth and benefit to pool near the top. For example, refrigeration lets the working class keep food for long and get it from farther away, but it also allows the wealthy to accumulate more, as well, leading to a steeper difference between the wealthy and working class.
2047 cr points
Send Message: Send PM GB Post
24 / M / USA
Offline
Posted 10/26/15

GayAsianBoy wrote:

Yes, we get to enjoy the luxury of fast food like mcdonalds and kfc, while they have to wait hours just for an appetiser.

Go working class.


Did you read what I posted? Your response leads me to believe you didn't read it.
10831 cr points
Send Message: Send PM GB Post
13 / F / California
Offline
Posted 10/26/15

Schmooples wrote:

Right, that's why any rich person would be happy to go back in time and live as a rich person millennia ago.

As things progress, quality of life goes up for all - this isn't a trait of capitalism alone. The same would occur under a Communist or Socialist system, too.

However, capitalism allows wealth and benefit to pool near the top. For example, refrigeration lets the working class keep food for long and get it from farther away, but it also allows the wealthy to accumulate more, as well, leading to a steeper difference between the wealthy and working class.


Yes, the USSR and North Korea were awesome places to live.
2270 cr points
Send Message: Send PM GB Post
21 / F / Southern US
Offline
Posted 10/26/15

VZ68 wrote:


Schmooples wrote:

Right, that's why any rich person would be happy to go back in time and live as a rich person millennia ago.

As things progress, quality of life goes up for all - this isn't a trait of capitalism alone. The same would occur under a Communist or Socialist system, too.

However, capitalism allows wealth and benefit to pool near the top. For example, refrigeration lets the working class keep food for long and get it from farther away, but it also allows the wealthy to accumulate more, as well, leading to a steeper difference between the wealthy and working class.


Yes, the USSR and North Korea were awesome places to live.


Not Communist and overly authoritarian. You will find few Communists claiming otherwise. In fact, you will find few informed people claiming that either of those were Communist.

Given the massive pressures the USSR faces, it is little surprise that things were fairly rough from the start. The main issues came about under Stalin. This was not an issue with Socialism or Communism so much as it was authoritarian control - exiling or killing opposition, heavily policing people, etc. - and outside pressures.
451 cr points
Send Message: Send PM GB Post
21 / M
Offline
Posted 10/26/15
The whole point of capitalism is that no one gets paid more than someone is willing to pay them. People should get to choose how to spend their money.

I might not be willing to pay professional sports players millions of dollars, but someone is and I have no right to stop that.
5960 cr points
Send Message: Send PM GB Post
Offline
Posted 10/26/15

biscuitnote wrote:

"Industrial progress, mechanical improvement, all of the great wonders of the modern era have meant little to the wealthy.

The rich in ancient Greece would have benefited hardly at all from modern plumbing — running servants replaced running water.

Television and radio — the patricians of Rome could enjoy the leading musicians and actors in their home, could have the leading artists as domestic retainers.

Ready-to-wear clothing, supermarkets — all these and many other modern developments would have added little to their life.

They would have welcomed the improvements in transportation and in medicine, but for the rest, the great achievements of western capitalism have rebounded primarily to the benefit of the ordinary person.

These achievements have made available to the masses conveniences and amenities that were previously the exclusive prerogative of the rich and powerful."

That's really only true insofar as the market is oriented towards the majority of the public purchasing these amenities, a shift in western capitalist economies that seems to fall between 1920 and 1945 afaik.
Early industrial capitalist economies were oriented towards the "high capital market" of governments and other industrialists (eg. steel, railroad infrastructure, energy), which did not benefit working people very much at all.
The loss of wealth of the working class and "middle classes" between the early 1970s and the present is becoming a major problem for western capitalist societies.
599 cr points
Send Message: Send PM GB Post
26 / M / Connecticut
Offline
Posted 10/26/15

GrandmasterCoolio wrote:

Capitalism does indeed benefit the working class. In fact, I'd argue that it benefits the majority of people as a whole when done right. Crony capitalism, however...


I feel like people like to stick the word "Crony" in front of something in order to justify its "original" intent. With that logic then I can easily say Communism works fine and that "Crony Communism" caused the collapse of the USSR



That's really only true insofar as the market is oriented towards the majority of the public purchasing these amenities, a shift in western capitalist economies that seems to fall between 1920 and 1945 afaik.
Early industrial capitalist economies were oriented towards the "high capital market" of governments and other industrialists (eg. steel, railroad infrastructure, energy), which did not benefit working people very much at all.
The loss of wealth of the working class and "middle classes" between the early 1970s and the present is becoming a major problem for western capitalist societies.


^This pretty much sums it up
38922 cr points
Send Message: Send PM GB Post
26 / M / Your friendly nei...
Offline
Posted 10/26/15
Why is the entire OP a quote? Do you lack the intelligence to form your own opinions or even paraphrase and at least pretend the words are yours?

Maybe I should start a thread and just copy-pasta someone else's entire article so that I can seem important.
27451 cr points
Send Message: Send PM GB Post
28 / M / USA! USA! USA!
Offline
Posted 10/26/15

GrandmasterCoolio wrote:

Capitalism does indeed benefit the working class. In fact, I'd argue that it benefits the majority of people as a whole when done right. Crony capitalism, however, favors a specific group of people at the top -- and keeps everyone at the bottom down. It is an oligarchical, unacceptable perversion of the free market where the reverse is true: benefiting the ruling class far more than the working class.

Sadly, many people seem to be under the impression that the latter is the same as the former. This leads to them either condemning the economic system as a whole or embracing unjust, unsound policies as staples of the free market.



Quoted For Truth.
23684 cr points
Send Message: Send PM GB Post
M / Fort Bragg, NC
Offline
Posted 10/26/15

thekevin4 wrote:

Why is the entire OP a quote? Do you lack the intelligence to form your own opinions or even paraphrase and at least pretend the words are yours?

Maybe I should start a thread and just copy-pasta someone else's entire article so that I can seem important.



16741 cr points
Send Message: Send PM GB Post
Hoosierville
Offline
Posted 10/26/15 , edited 10/26/15

GayAsianBoy wrote:

Yes, we get to enjoy the luxury of fast food like mcdonalds and kfc, while they have to wait hours just for an appetiser.

Go working class.


Who wants an appetiser I want the main course.
11622 cr points
Send Message: Send PM GB Post
40 / M / USA
Offline
Posted 10/26/15
In the end the only ones who truly benefit are the super rich. Everyone else is simply led to believe they are.
First  Prev  1  2  3  Next  Last
You must be logged in to post.