An #EconomicDemocracy is a market economy where most firms are structured as #WorkerCoops.
What do you mean by work in the statement, “Capitalism can work?”
EDIT: Just to be clear, I am asking what normative criteria you are using to assess the system. There is no non-moral objective notion of a system working without some ethical goal in mind
Capitalism’s defining institutions are
The alternative to capitalism I propose, Georgist economic democracy, abolishes 1 and 3. 2 continues formally but there is widespread collective ownership of the means of production. Markets continue to exist to help coordinate production and allocate resources. Many defenders of capitalism incorrectly conflate capitalism with markets @general
What do you mean by capitalism? @general
The path to a solution for journalism is a funding mechanism that is a mixture of quadratic funding by Zoë Hitzig, Glen Weyl and Vitalik Buterin and artistic freedom vouchers that Dean Baker proposed. These are mechanisms where the public directly decides what news sources receive public funding.
Quadratic funding: https://youtu.be/xwY0UAk14Rk
Artistic Freedom Vouchers: https://cepr.net/report/the-artistic-freedom-voucher-internet-age-alternative-to-copyrights/
“Now it is time to state the conditions under which private property and free contract will lead to an optimal allocation of resources… The institution of private property and free contract as we know it is modified to permit individuals to sell or mortgage their persons in return for present and/or future benefits” – Economist Carl Christ in US congressional testimony
“whether a free system will allow him to sell himself into slavery. I believe that it would” – Robert Nozick
The challenges you mention don’t really refute the main arguments for worker coops, inalienable rights theory, even if they were unsolvable problems that couldn’t be solved no matter what other changes were made. Economic democracy aims for workers to get the positive and negative fruits of their labor in property rights terms not value. This is based on the tenet that legal and de facto responsibility should match. Capitalist firms don’t satisfy this basic tenet. They are thus illegitimate @196
Dialetheism is the view that some contradictions (i.e. p and not-p) are true. The argument for this is based on the liar’s paradox:
This sentence is false.
If you follow the logic through, you get the conclusion that it is both true and false. It requires some changes to Frege-Russell-style classical logic to be coherent, but it allows one to solve almost all paradoxes in one philosophical move. For example, you can have naive set comprehension principles
Capitalism v. communism is certainly a false dilemma. There are other alternatives such as Georgism as you noted. I would go further and advocate a Georgist economic democracy where all firms are structured as worker coops. Similar to the problem you identify with capitalism in that it fails to treat land and capital differently, the mainstream of Georgist thought fails to differentiate labor from capital in an important respect. Labor can’t factually be transferred unlike capital @196
Perhaps, but there isn’t a good reason to place such a restriction on worker co-ops. Worker co-ops shouldn’t be forced to buy the entire thing when a segment of its services would do.
Liberals as a group tend to support capitalism. Liberalism as a political philosophy can have implications that claimed adherents don’t endorse. After mapping out all the logical implications of liberal principles, it becomes clear that coherent liberalism is anti-capitalist @asklemmy
deleted by creator
Worker co-ops don’t necessarily have full worker ownership of the means of production because a worker coop can lease means of production from a third party. It is not socialist. Nor do I mean to suggest it is capitalist. It can’t be capitalism as it has no capitalists as you correctly point out. Since you recognize that it is technically correct to say a worker co-op market economy has private property, you recognize
Capitalism ≠ private property @asklemmy
When I said capitalists there I meant liberal defenders of capitalism.
A market economy of worker coops has private property, so can’t be socialist. Market socialism is a misnomer and unnecessarily associates with a label people already have preconceived notions about @asklemmy
The normative basis of private property, which capitalists claim to adhere to, is people’s inalienable right to appropriate the positive and negative fruits of their labor. Capitalism routinely violates this principle in the employment contract. Satisfying the principles of private property would require that all firms be worker cooperatives. The principles of liberalism imply anti-capitalism. It is entirely compatible to be a liberal and an anti-capitalist @asklemmy
deleted by creator
Many liberals are anti-worker, but the political philosophy of liberalism is not inherently anti-worker. Liberal anti-capitalists like David Ellerman illustrate this using liberal principles of justice to argue for a universal inalienable right to workers’ self-management and abolition of the employer-employee relationship @asklemmy
You’re right that wasn’t very clear.
Capitalism is exploitative due to the employment contract not non-worker capital ownership. The employment contract is bad because it gives the employer 100% of the property right to the produced output (i.e. ownership of new cars in a car firm) and 100% of the liabilities for the used-up inputs (i.e. factory machine services) while employees get 0%. The workers don’t create the output out of nothing they use input materials @lemmyshitpost
The payment to investors in this case isn’t based on a non-worker solely appropriating the fruits of labor. The payment is satisfaction of the liability workers jointly appropriate as part of the negative product. Paying covers the costs of the negative product. It is compensation to the investors for the capital they supplied and the work they did building up that much capital @lemmyshitpost
The workers aren’t exploited in a worker coop. The workers jointly appropriate the positive and negative fruits of their labor. The workers don’t create the product ex nihilo they use up inputs (e.g. the services of capital). Paying lease is satisfaction of liabilities for using up capital services. Leasing out labor’s product allows workers to sell a part of the product’s services rather than sell the entire product. The employment contract gives the employer the product @lemmyshitpost
There are ideologies that believe control rights over firms belong to the workers in those firms. In these ideologies, the control rights can’t be given up or transferred even with consent from the workers in the firm i.e. are inalienable. Neoliberalism specifically endorses the alienability control rights over firms. The non-democratic nature of the firm under neoliberal capitalism creates a class used to democratically unaccountable power