9 Oct 2022 3:18 pm
Capitalism has had great success, and has lifted people out of poverty, but it has limitations and fatal flaws. Here are four failures of capitalism
1. The profit motive where it has no business being present
Perhaps the best example of this is big pharma. When vaccines were first introduced, they were intended for public health and safety, not profit. Jonas Salk and other physicians famously refused to profit from vaccine discoveries. In corrupted capitalism run amok, profit is the ONLY motivation for creating/distributing vaccines, and the original utility of them (public health) is perverted and lost.. thanks Capitalism.
2. Innovation is stifled
When solving problems becomes detrimental to profits under capitalism, problems will not be solved. Look at the giant Pacific garbage patch which is poisoning marine life -and thus every life form up the food chain, including humans- with toxic plastic garbage. There is no answer under capitalism for this pollution, thus Capitalism is literally poisoning and killing us all. Thanks, capitalism.
1. The profit motive where it has no business being present
Perhaps the best example of this is big pharma. When vaccines were first introduced, they were intended for public health and safety, not profit. Jonas Salk and other physicians famously refused to profit from vaccine discoveries. In corrupted capitalism run amok, profit is the ONLY motivation for creating/distributing vaccines, and the original utility of them (public health) is perverted and lost.. thanks Capitalism.
2. Innovation is stifled
When solving problems becomes detrimental to profits under capitalism, problems will not be solved. Look at the giant Pacific garbage patch which is poisoning marine life -and thus every life form up the food chain, including humans- with toxic plastic garbage. There is no answer under capitalism for this pollution, thus Capitalism is literally poisoning and killing us all. Thanks, capitalism.