this post was submitted on 20 Aug 2023
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What a system is capable of doing initially for a lucky fraction of the populace and where its inevitable and terrible end leads for the vast majority are two entirely different things.
When properly regulated, capitalism does raise standard of living for the vast majority.
You got downvoted but you are correct. It raises it higher for some more than others but it does improve for everyone.
The problem in the US is it's so lightly regulated that we we living under an oligarchy in the name of "freedom."